Beige Book Shows No Worries From Stronger Dollar

The stronger dollar was not a factor in current economic conditions, according to the latest Beige Book report on economic conditions released by the Federal Reserve on Wednesday. The stronger dollar was only mentioned once, by oil industry contracts along the Gulf of Mexico, who were concerned that the higher value of the greenback had made U.S. oil exports more expensive. The Beige Book, based on comments from Fed business contacts before Oct.6, found that the overall economy continued to grow at the same "modest to moderate pace" seen since 2011, with moderate consumer spending and modest wage growth.