FOREX TradingCharts.com

Financial News: Fed's Beige Book Notes Modest Economic Growth, Substantial

Fed's Beige Book Notes Modest Economic Growth, Substantial Inflation

07/13/2022 - 14:16:00 (RTTNews)

(RTTNews) - With the Federal Reserve's next monetary policy decision looming toward the end of the month, the central bank released its latest Beige Book on Wednesday.

The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, noted U.S. economic activity has expanded at a modest pace since mid-May.

However, the Fed said several districts reported growing signs of a slowdown in demand, with contacts in five districts noting concerns over an increased risk of a recession.

The report said most Fed districts reported that consumer spending moderated as higher food and gas prices diminished households' discretionary income.

On the inflation front, the Fed noted substantial price increases were reported across all districts, at all stages of consumption, although three quarters noted moderation in prices for construction inputs such as lumber and steel.

"Increases in food, commodities, and energy (particularly fuel) costs remained significant, though there were several reports that price inflation for these categories had slowed compared with recent months but remained historically elevated," the Fed said.

Meanwhile, the Beige Book said pricing power remained steady, with firms in some sectors, such as travel and hospitality, successfully passing sizable price increases on to customers with little to no pushback

The report also said most districts continued to report modest to moderate job growth, although nearly all districts noted modest improvements in labor availability amid weaker demand for workers, particularly among manufacturing and construction contacts.

The release of the Beige Book comes two weeks before the Fed's next monetary policy meeting on July 26-27, when the central bank is widely expected to raise interest rates by another 75 basis points.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise (02 hr(s), 40 min(s), 19 sec(s) ago)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story»

Philippine Central Bank Raises Key Interest Rate Further (02 hr(s), 46 min(s), 19 sec(s) ago)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story»

U.S. Leading Economic Index Declines For Fifth Straight Month In July (03 hr(s), 04 min(s), 19 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story»

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July (03 hr(s), 18 min(s), 19 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story»

Mainland Norway Q2 GDP Expands As Expected (03 hr(s), 17 min(s), 19 sec(s) ago)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story»

Philly Fed Index Unexpectedly Indicates Return To Growth In August (03 hr(s), 34 min(s), 19 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

U.S. Jobless Claims Unexpectedly Edge Down To 250,000 (04 hr(s), 01 min(s), 19 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday unexpectedly showed a modest pul ...Full Story»

Philly Fed Index Unexpectedly Returns To Positive Territory In August (05 hr(s), 06 min(s), 19 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise

08/18/2022 - 11:09 AM (RTTNews)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story>>

Philippine Central Bank Raises Key Interest Rate Further

08/18/2022 - 11:03 AM (RTTNews)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story>>

U.S. Leading Economic Index Declines For Fifth Straight Month In July

08/18/2022 - 10:45 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story>>

Mainland Norway Q2 GDP Expands As Expected

08/18/2022 - 10:32 AM (RTTNews)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story>>

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July

08/18/2022 - 10:31 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.