Fed Data Shows Labor Economy Anchoring Consumer Spending

The latest Federal Reserve Beige Book, released on Wednesday (March 4), describes a U.S. economy advancing at a restrained pace, a finding that corresponds with  PYMNTS Intelligence data showing that millions of workers remain employed yet financially unsettled, while still opening their wallets to underpin economic growth.

Across the country, economic activity advanced modestly in several regions while stagnating in others. The Beige Book reports that “overall economic activity increased...