Fed Beige Book Shows Economic Growth Rebounding While Employment Remains Largely Unchanged

Deep News01-15

The Federal Reserve stated in its Beige Book survey that since mid-November, economic activity in most parts of the United States has grown at a "slight to modest" pace.

This marks an improvement compared to the previous three reporting cycles, during which most districts reported little to no change.

According to the report, employment levels remained largely unchanged in eight of the twelve regional Federal Reserve districts. Wage growth was "moderate," with "numerous contacts indicating that wage growth had returned to a 'normal' level."

The Richmond Fed compiled the latest edition of the Beige Book based on information collected on or before January 5. The report includes commentary and anecdotes from business leaders and other contacts within the various Fed districts. Fed officials are scheduled to meet again on January 27-28 to decide on interest rates.

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