U.S. economy is growing at modest pace, Fed says

01/17/2013 | Reuters

The U.S. economy has continued expanding in recent weeks, but there were few signs of an increased pace, according to the Federal Reserve's Beige Book. The report says uncertainty about government spending and the state of 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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