Economic conditions across the U.S. "slowed somewhat," according to
the Fed's Beige Book on Wednesday. Five of the 12
districts were said to have weakened since the last report six weeks ago,
while Chicago's economy was "sluggish" and growth in Kansas City had
moderated. The remaining three districts saw slight increases in
activity.
Residential real estate markets "remained sluggish in
a majority of districts," the report said, with residential real estate
lending and consumer lending showing more weakness than commercial
lending.
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