News – Beige Book
Report:June.03: In its anecdotal Beige Book report, the Federal Reserve said it expects economic growth to continue at a modest to moderate pace Fox Business reported.
The central bank noted the dollar’s strength weighed on export sales and capital investments.
For many of its 12 districts, continued oil-price weakness pressured energy-dependent industries, but resulting low gas prices proved to be a tailwind for consumer spending in Cleveland and San Francisco.
Meanwhile, three districts noted continued negative effects from the West Coast port strike.