Analysis: Details of the Fed's Beige Book will boost confidence in rate cuts
Some analysts believe that the July Beige Book may strengthen the Fed's confidence in cutting interest rates at the upcoming meeting. The "slight to moderate" economic growth description is similar to the May report, but the details show marginal weakness in the economy - including stabilizing input costs, slowing wage growth, and lowering growth expectations. Analysts expect policymakers to begin gradually lifting policy restrictions at the September FOMC meeting, which should bring them comfort.
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