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Businesses Expect Economy to Weaken, Fed’s Beige Book Says
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U.S. businesses are becoming more pessimistic about economic conditions in the face of high inflation and rising interest rates, the Federal Reserve said in a Wednesday report.
The Fed’s 12 regional reserve-bank districts said business contacts noted “growing concerns about weakening demand,” according to the central bank’s latest compilation of economic anecdotes from around the country, known as the Beige Book.
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