Fed survey sees faster growth despite supply-chain problems

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WASHINGTON (AP) — The Federal Reserve is reporting that that the U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nations manufacturers. The Fed’s latest survey of economic conditions around the nation published Wednesday showed that several of the Fed’s districts reported positive effects on the economy from increased vaccination rates and relaxed social distancing measures. But offsetting those gains were economic headwinds coming from supply-chain problems. The Fed’s report, known as the beige book, is based on surveys conducted by the Fed’s 12 regional banks. The information will form the basis of discussion when Fed policymakers meet on June 15-16 to decide the future course of interest rates. 

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