Published May 03, 2016
The Federal Reserve says the U.S. economy was growing at a moderate pace from mid-February through the end of March although the harsh winter, the rising value of the dollar and a big plunge in oil prices were having adverse effects on some industries.
In its latest survey of business conditions around the country, the Fed says that eight of its 12 banking regions described the economy as growing at either a moderate or modest pace with two others — Atlanta and Kansas City — describing conditions as steady.
The report said that demand for manufactured goods was mixed with the strong dollar cutting into demand for exports.
The information included in the report will be used by Fed policymakers when they next meet on April 28-29.