The economy grew at “a modest to moderate pace” in January and February, according to the “beige book” reports of activity from the 12 Federal Reserve districts.

Cleveland, Chicago, Kansas City, Dallas and San Francisco termed economic activity expansion as “moderate,” while St. Louis called growth “modest.”

Minneapolis reported “firm” growth, while the economy was moving “at a somewhat faster pace” in Philadelphia and Atlanta. The New York district saw a somewhat slower pace of expansion, while Boston and Richmond reported economic activity expanded or improved.

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