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Fed: 'Some Deceleration' By Economy In Recent Weeks

"Economic activity generally continued to expand" in most parts of the country over the past six to seven weeks, "though a few districts indicated some deceleration," the Federal Reserve just reported in its latest Beige Book review of conditions around the nation.

According to the central bank:

"Some slowing in the pace of growth was noted in the New York, Philadelphia, Atlanta, and Chicago districts. In contrast, Dallas characterized that region's economy as accelerating. Other districts indicated that growth continued at a steady pace."

The Beige Book, named for the traditional color of its cover, is a largely anecdotal report prepared for meetings of Fed policymakers.