The Federal Reserve says the U.S. economy was expanding in January and February, but half the country was seeing fallout from the 35-day partial government shutdown.
Some manufacturers expressed worries about weakening global demand for their products and adverse effects from President Donald Trump's trade policies.
In its latest report on economic conditions around the country, the Fed said that 10 of its 12 regions reported"slight-to-moderate growth" over the past two months. Two — Philadelphia and St. Louis — reported that conditions were"flat." The Fed report, known as the beige book, will be used when central bank officials meet March 19-20 to consider what to do with interest rates. The expectation is that the central bank will remain"patient" and leave rates unchanged.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House plays politics with Fed chief's testimony - Reuters TVFederal Reserve Chairman Jerome Powell has to avoid falling into any political pitfalls during his second day of congressional testimony as he appeared before the Democratic-led House Financial Services Committee.
Read more »
How Donald Trump and the Fed could ignite a ‘shock and awe’ market rallyJPMorgan’s Adam Crisafulli has high hopes for the market, but only if the powers-that-be make the necessary moves.
Read more »
Fed may need time to have clarity on US economy: RosengrenIt may take the Fed several meetings before it has a clear read on the economy, a top Fed policymaker said.
Read more »
Fed's Williams: 'New normal' of slow growth will keep Fed patientHe cited three constraining factors: a global slowdown, geopolitical uncertainty and tighter financial conditions.
Read more »
Fed's Clarida emphasizes 'patient' approach to further rate hikesThe remarks reflected recent Fed commentary that officials will take a patient approach to monetary policy.
Read more »
Fed to stop shrinking portfolio this year, Powell saysThe Federal Reserve will stop shrinking its $4 trillion balance sheet later this...
Read more »
Fed settles for big balance-sheet futureChairman Jay Powell told Congress that the U.S. central bank would stop running down its assets this year. That means holding at least $3.5 trillion, four times the pre-crisis figure. That’s not the “normalization” many were looking for – but there are reasons for it.
Read more »
Fed Chief Jerome Powell Says U.S. Economy ‘Is in a Good Place’Jerome Powell said the U.S. economy is doing well, but he highlighted risks to growth that prompted the central bank to signal it is done raising interest rates for now.
Read more »