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Fed Beige Book: Economy Grew at Modest Pace to Close 2021
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The U.S. economy grew at a modest pace in the closing weeks of 2021 as ongoing supply-chain issues and a shortage of available workers held back production, the Federal Reserve said Wednesday.
Consumer spending, however, continued to grow ahead of a rise in Covid-19 cases caused by the Omicron variant, the Fed said in its periodic collection of business anecdotes from around the country known as the Beige Book.
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