- Growth slower in some regions in July and August
- Economy expanded at modest pace; some districts weak or weakening
- Stock market volatility, economic uncertainty led businesses to trim outlooks
- Five districts saw growth, seven sluggish to slower growth
- Overall loan demand stable to weaker in all districts
Nothing in here to change the state of play headed into the FOMC meeting. Hawks will say policy moves are not working, does will say we need more accommodation.