Fed’s Beige Book Says US Price Growth Seen Moderating in 2023

Bloomberg2023-01-19

Employment growing at modest pace, wage pressures elevatedContacts generally expected little growth in the months aheadGrowth in US prices is expected to ease in the year ahead, contacts surveyed in ...

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Comments

Ahleepapa
2023-01-19
Ahleepapa
BULL OI
RASing
2023-01-19
RASing
Good summary
CTPW90
2023-01-19
CTPW90
JWhv
LimBT
2023-01-19
LimBT
Ok
- Louis7779:
  Pls like my post back thanks
CTPW90
2023-01-19
CTPW90
@TigerPM @Buy_Sell ok@TigerStars we do@TigerStars iu has IK. IT

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The central bank has been raising interest rates aggressively to try to cool demand and bring down an inflation rate that has remained near a 40-year high.Fed officials lifted rates by a half-point last month to a target range of 4.25% to 4.5%, slowing the pace of rate increases after four straight 75 basis-point moves. Officials see interest rates rising above 5% this year and staying there until 2024, according to projections released by policymakers last month.Consumer prices rose 6.5% in the 12 months through December, marking the weakest inflation rate in more than a year, Labor Department data showed.Employment GrowingThe survey showed that employment continued to grow at a modest-to-moderate pace in most districts.“Many firms hesitated to lay off employees even as demand for their goods and services slowed and planned to reduce headcount through attrition if needed,” the survey stated. “With persistently tight labor markets, wage pressures remained elevated across districts, though five Reserve Banks reported that these pressures had eased somewhat.”Recent economic data are giving mixed reports on the US economy in the fourth quarter. Retail sales fell in December by the most in a year, suggesting consumers are losing some of the resilience, Commerce Department data showed Wednesday.Yet US payrolls rose more than expected with a gain of 223,000 in December, while the unemployment rate dropped to 3.5%. And gross domestic product may be tracking about 3.5%, according to the Atlanta Fed’s tracker.‘Little Growth’“On balance, contacts generally expected little growth in the months ahead,” according to the Beige Book, which noted that overall activity was relatively unchanged since the prior report.The New York district reported a decline in economic activity, with the drop being “especially sharp” in manufacturing, the report showed.Fed officials have remained unified in their calls for additional rate hikes to fight inflation, even as recent data have shown progress.“You just can’t declare victory too soon,” Fed Richmond President Thomas Barkin said Tuesday.Fed St. Louis President James Bullard said Wednesday the central bank will want to keep rates higher for longer as insurance against a lingering inflation similar to the 1970s.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9956579175,"gmtCreate":1674092374897,"gmtModify":1676538922857,"author":{"id":"3585038405943602","authorId":"3585038405943602","name":"Ahleepapa","avatar":"https://static.tigerbbs.com/dcc1fea9c38112b58c68a2d96017330b","vip":1,"crmLevel":1,"crmLevelSwitch":1,"idStr":"3585038405943602","authorIdStr":"3585038405943602"},"htmlText":"BULL OI","listText":"BULL OI","text":"BULL OI","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956579175","repostId":1196914393,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9956579361,"gmtCreate":1674092350653,"gmtModify":1676538922858,"author":{"id":"4111540469028152","authorId":"4111540469028152","name":"RASing","avatar":"https://community-static.tradeup.com/news/3cddd6aaded2b19dcc10ad69c0417db7","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"4111540469028152","authorIdStr":"4111540469028152"},"htmlText":"Good summary&nbsp;","listText":"Good summary&nbsp;","text":"Good summary","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956579361","repostId":1196914393,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9956570206,"gmtCreate":1674092069706,"gmtModify":1676538922751,"author":{"id":"4099474185814100","authorId":"4099474185814100","name":"CTPW90","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4099474185814100","authorIdStr":"4099474185814100"},"htmlText":"JWhv","listText":"JWhv","text":"JWhv","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956570206","repostId":1196914393,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9956570163,"gmtCreate":1674092006952,"gmtModify":1676538922736,"author":{"id":"4134278158747952","authorId":"4134278158747952","name":"LimBT","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4134278158747952","authorIdStr":"4134278158747952"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9956570163","repostId":1196914393,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105603784,"gmtCreate":1674094721381,"gmtModify":1674094734039,"authorId":3579095725705542,"author":{"id":3579095725705542,"idStr":"3579095725705542","authorId":3579095725705542,"name":"Louis7779","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9956570163,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Pls like my post back thanks<span class=\"Apple-converted-space\"> </span></span>","text":"<span class=\"s1\">Pls like my post back thanks<span class=\"Apple-converted-space\"> </span></span>","html":"<span class=\"s1\">Pls like my post back thanks<span class=\"Apple-converted-space\"> </span></span>"}],"langContent":"EN"},{"id":9956547488,"gmtCreate":1674091946844,"gmtModify":1676538922703,"author":{"id":"4099474185814100","authorId":"4099474185814100","name":"CTPW90","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4099474185814100","authorIdStr":"4099474185814100"},"htmlText":"<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM&nbsp;</a><a href=\"https://ttm.financial/U/3527667596890271\">@Buy_Sell&nbsp;</a>ok<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a>we do<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a>iu has IK. &nbsp;IT&nbsp;","listText":"<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM&nbsp;</a><a href=\"https://ttm.financial/U/3527667596890271\">@Buy_Sell&nbsp;</a>ok<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a>we do<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a>iu has IK. &nbsp;IT&nbsp;","text":"@TigerPM @Buy_Sell ok@TigerStars we do@TigerStars iu has IK. IT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956547488","repostId":1196914393,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":75,"commentSize":5,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1196914393"}