Fed survey finds widespread concerns over trade
WASHINGTON (AP) — The Federal Reserve’s latest nationwide survey reveals that despite growing worries about the impact of President Donald Trump’s trade battles, the overall economy remained solid.
The Fed says that many of its 12 regions saw slight gains in retail sales and home sales. Auto sales remained flat and farmers struggled with heavy rains.
“The outlook generally was positive for the coming months with expectations of continued modest growth, despite widespread concerns about the possible negative impact of trade-related uncertainty,” the Fed report says.
The report, known as the beige book, will be used for discussion at the next Fed meeting later this month when there is a wide expectation the Fed will cut its policy rate for the first time in a decade.