Economic Growth: The economy grew at a...

Economic Growth: The economy grew at a moderately strong pace early this year, with widespread evidence of upward pressure on production costs and prices, the Federal Reserve Board reported. “Consumer spending, except for autos, has apparently gained momentum while manufacturing, especially for export, continues to show strength almost everywhere,” said the report, based on surveys conducted by the Fed’s 12 district banks. The survey, known as the Tan Book, was prepared for the March 28 meeting of the Fed’s policy-making Open Market Committee, the panel that sets policy for the central bank.