U.S. economy is expanding somewhat, Fed says

01/17/2013 | Reuters

The U.S. economy continues expanding, but there were few signs in recent weeks of the pace picking up, the Federal Reserve's Beige Book indicates. The anecdotal roundup of reports from all central bank districts says uncertainty about the federal government's fiscal situation and Europe's economy are a drag on hiring. "Hiring plans were more cautious for firms doing business in Europe or in the defense sector," the Fed said.

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