The Federal Reserve's Beige Book indicated growing optimism about the U.S. economy, with each of the central bank's 12 districts reporting activity expanded from mid-May through June, and particular optimism coming from five districts. The Beige Book, which is a collection of anecdotes about the economy, reported improving consumer spending, mixed activity for transportation, positive reports on real estate, increasing lending activity, and "modest" wage pressures. The report will be used by the central bank in deliberations for the July interest-rate-setting meeting.
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