The Federal Reserve’s latest Beige Book — covering April to mid-May — reveals a continuation of modest economic expansion across most Districts, though two Districts noted no change in activity from the prior release. The Beige Book provides qualitative data gathered by Federal Reserve policymakers from business contacts across Fed Districts. This data includes insights into economic conditions and trends, which policymakers consider alongside quantitative data to inform their decisions on monetary policy. Notably, Thursday will bring the second estimate of Q1 U.S. gross domestic product, init…