Odaily News Some analysts said the July Beige Book could bolster the Fed's confidence in cutting rates at its upcoming meeting. The description of "small to moderate" economic growth was similar to the May report, but the details showed marginal weakness in the economy - including stabilization of input costs, slower wage growth and lower growth expectations. Analysts expect policymakers to begin phasing out policy restrictiveness at the September FOMC meeting, and these developments should give them comfort.