Fed's Beige Book identifies 'modest to moderate' growth

Fed's Beige Book identifies 'modest to moderate' growth »

The U.S. economy is continuing to grow at a "modest to moderate" pace, the Federal Reserve reported Wednesday, in an assessment that is likely to keep it continuing its loose monetary policy. The so-called Beige Book found manufacturing expanding, rising consumer spending, stable to growing services activity, and moderate to strong residential real estate and construction. The Beige Book noted that while hiring held steady or increased at a measured pace, there was a reluctance to add full-time workers.