Analysis: Fed Beige Book details will boost confidence in rate cuts

Some analysts said the July Beige Book could bolster confidence that the Federal Reserve will cut interest rates at its upcoming meeting. The "moderate to moderate" description of economic growth is similar to the May report, but details show weakness at the margins - including stabilising input costs, slowing wage growth and lower growth expectations. These developments should provide comfort to policymakers who expect to begin phasing out policy restrictions at the September FOMC meeting.