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Businesses Expect Economy to Lose More Steam, Fed’s Beige Book Says
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wsj.comU.S. businesses in the late summer expected continued weak economic growth as consumers and businesses face high inflation, a tight labor market and economic uncertainty, the Federal Reserve said in a report.
The Fed’s 12 regional reserve-bank districts said their business contacts noted “expectations for further softening of demand over the next six to twelve months,” according to the central bank’s latest compilation of economic anecdotes from around the country, known as the Beige Book.
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