The description: Most of the Federal Reserve’s 12 districts saw modest to moderate growth from mid-October through late November, but Dallas and Philadelphia noted slower growth, while St. Louis and Kansas City noted just slight growth, according to the Fed’s Beige Book report released Wednesday. What happened: The Beige Book report was positive but did note headwinds. On the plus side: Consumer spending held steady, tourism kept pace, and tariffs didn’t derail manufacturing. On the minus side: New home construction and existing home sales meanwhile tended to decline or hold steady, and lending volumes grew just ... (full story)