The Globe and Mail reports in its Thursday edition that U.S. economic activity appeared to stall in recent weeks, a Federal Reserve report showed, with job growth and inflation both slowing, and near-term business prospects looking slightly worse than previously. A Reuters dispatch to The Globe reports that the Fed said in its latest "Beige Book" compendium of surveys and interviews, conducted across its 12 districts through May 22, "Expectations for future growth deteriorated a little, though contacts still largely expected a further expansion in activity." Contacts across districts noted that while labour markets remained strong, they had "cooled some," the report said, with businesses in some regions reporting a pause in hiring or reductions in staffing because of weaker demand or greater uncertainty. Meanwhile districts reported that the pace of inflation had slowed, with prices rising "moderately" and contacts in most parts of the country expecting a similar pace of price increases in the coming months. In May, Fed policy makers increased the benchmark short-term interest rate a 10th straight time, signalling that they were near or possibly at the end of a rate-hike campaign that began last March.