Fed: Economy Expands At A Modest Pace

Here:

The sluggish recovery failed to gain any speed in recent weeks and softened in some areas with factory activity sputtering and retail sales under pressure, the Federal Reserve said on Wednesday.
"Economic activity continued to expand at a modest pace, though some Districts noted mixed or weakening activity," the Fed said in its Beige Book collection of anecdotal reports of economic conditions in the 12 Fed districts.
Growth was modest or slight in five districts through late August, while the remaining seven described activity in terms such as "very subdued" or "more slowly." In the Fed's last Beige Book covering the period into early July, eight regions characterized growth as having slowed.

Everytime I hear the Fed say the economy is expanding at a modest or moderate pace, I think of this very disturbing Adam Sandler song (very definitely NSFW or sensitive ears).