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Nearly all Districts reported that housing market conditions continued to soften, though several noted that activity increased in some markets," the Fed stated in last week's beige book, a report on economic activity that is issued eight times annually. By taking a breather, the Fed would have time to assess the toll on economic activity and inflation of its 17 rate increases since 2004, according to minutes of the Fed's Aug. Social service groups which include family services, daycare, shelters, services for youth, the elderly, or persons with disabilities led the field in the rate of economic activity growing by 23. |
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