The Fed's Economy Check-Up

Eight times a year, the Federal Reserve takes the temperature of the economy by asking businesses across the country how things are going. It's called the Beige Book, and the October edition came out this week. The picture: slow growth. Of the Fed's twelve districts, two reported moderate growth, three modest growth, four slight growth, and three saw no real change. Factories were the bright spot, with especially strong manufacturing growth in the Dallas district. Shoppers were mostly holding steady, and more than half of the districts said high-income households were doing most of the spending. Hiring was little changed. Prices kept climbing, which businesses tied to energy, diesel, tariffs and insurance costs. Most firms still expect the economy to grow over the next few months, but only slightly, with a lot of uncertainty. Wunder Money.