Fresh inflation data released Wednesday is likely to keep the Federal Reserve on pause during its next policy meeting this month, even though a new reading did show some signs of easing.

In the wake of Wednesday's official report on consumer prices, three officials who set the nation's monetary policy said they're confident the inflation rate will someday fall to typical pre-pandemic levels.

Economic activity increased “slightly to moderately” across the US in late November and December, supported by strong holiday sales, the Federal Reserve said in its Beige Book survey of regional business contacts.

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The U.S. economy grew slightly to moderately since late November, up from slight growth in its previous assessment, the Federal Reserve said on Wednesday in its latest Beige Book report. All 12 Fed districts reported at least some growth,