The economy in the majority of regions in the United States expanded at a modest or moderate growth pace in April through late May and there were some tentative signs that the Federal Reserve’s actions to cool demand were beginning to be felt, a Fed report showed on Wednesday.
The latest temperature check on the health of the economy comes at a critical time for the U.S. central bank as it more aggressively tightens financial conditions in its quest to bring down inflation that remains at a 40-year high.
