Economic Report: Worker shortages, rising costs hemming in a U.S. economy bursting at the seams, Fed’s Beige Book finds

Bloomberg News/Landov
A bustling U.S. economy is driving more traffic at ports such New Orleans, but the looming threat of a tariff trade war is causing headaches for business.

The Fed’s verdict: The rapidly expanding U.S. economy is running out of room to grow any faster as shortages of skilled workers and rising costs of raw materials handcuff businesses, the Federal Reserve said.

The central bank’s periodic review of the economy known as the Beige Book was notably more optimistic than it was just a few months ago. The Fed found that 11 of 12 regions of the country were growing at a “modest” pace or even faster.

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