Amid a harsh winter and a mixed bag of data, most Federal Reserve districts reported a expanding economy and a prevailing sense of optimism. Jobs gained across a variety of sectors, though wage pressures were muted, according to the March summary of economic forecasts the Fed compiled in its Beige Book of indicators. The weather did take some toll. Boston and New York both reported an impact on retail spending, though ironically the Minneapolis region saw sales off due to the warmer than expected season. Even in Boston, though, the mood was "fairly upbeat this period, notwithstanding the severe weather." ... (full story)