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Fed sees growth across US economy: Beige Book

The US economy grew during May and June, keeping up momentum after the first quarter's stall, the Federal Reserve's Beige Book report saidThe US economy grew during May and June, keeping up momentum after the first quarter’s stall, the Federal Reserve’s Beige Book survey said Wednesday. All 12 of the central bank’s districts indicated that economic activity expanded, with growth characterized as “modest” or “moderate,” according to the report, which will serve as a framework for the Fed’s monetary policy meeting at the end of July. Consumer spending, the driver that accounts for about two-thirds of US economic activity, revealed a mixed picture.

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