-
Fed’s Beige Book finds wage pressure and China, dollar concerns
The Federal Reserve’s Beige Book showed signs of weakness and strength in the U.S. economy, presenting a hazy picture for U.S. central bankers as they meet in two weeks to set interest-rate policy. On the side of optimism about the economy, the Beige Book found that there were growing wage pressures in the economy. Several of the Fed’s 12 districts “reported increasing wage pressures caused by labor market tightening.” Earlier reports this year have found only a smattering of wage gains, mainly in highly-skilled jobs. Higher wage pressures could lead to a pickup in consumer spending, meaning more jobs and ... (full story)