Fed Beige Book: Modest growth, moderate inflation
The Fed's Beige book ahead of the September meeting characterizes the economic activity with the following:
- Economic activity increased modestly since early July.
- The outlook for the coming months was positive, but sentiment was mixed across sectors.
- Contacts reported heightened uncertainty surrounding higher energy prices, policy and international conflict.
- Employment rose very slightly overall.
- Three districts reported modest gains in employment, four reported slight gains, and five reported no change.
- Prices increased moderately in eight districts.
- Two districts reported modest increases in prices, one reported slight increases, and one reported robust increases.
The Fed’s Beige Book is a snapshot of how the U.S. economy is doing, based on reports from businesses and other contacts across the Federal Reserve’s 12 regional districts. It is published eight times a year, ahead of the Fed’s policy meetings.
Instead of focusing mainly on statistics, it gathers firsthand observations about:
- Consumer spending: Are people buying more or pulling back?
- Employment and wages: Are businesses hiring, cutting jobs or raising pay?
- Prices: Are costs rising, and can businesses pass those increases on to customers?
- Business activity: Are manufacturing, housing and other sectors strengthening or slowing?
For traders, it helps answer: Is the economy heating up or cooling down? Stronger activity and persistent price pressures can support keeping interest rates higher. Slower growth and easing inflation can support rate cuts.
The Beige Book does not announce policy or promise the Fed’s next move. It adds context to the economic data policymakers use to make those decisions.
US stocks remain higher with the S&P up 0.47%, and the NASDAQ index up 0.37%..
US yields are mixed with the two-year down 1.05 basis points at 4.383%. The 10 year yield is unchanged at 4796% and the 30 year bond is up 0.7 basis points at 5.267%.
Crude oil futures are trading back above $91 at $91.41. That is up around $1.20. The high-priced today reached $92.29. The low price was at $88.97.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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