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Fed Beige Book not a big surprise given.........>

FED
FED: Fed Beige Book not a big surprise given pandemic driven economic
contraction: activity "contracted sharply and abruptly" (not modest or
moderate)," one desk notes with "leisure and hospitality and non-essential
retail hit hardest. Employment declined "steeply in many cases." Inflation
softer. Outlook "highly uncertain," with most expecting conditions to worsen in
the next several months."

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