FOREX TradingCharts.com

Financial News: Fed's Beige Book Says U.S. Economy Expanded Moderately,

Fed's Beige Book Says U.S. Economy Expanded Moderately, Inflation Remains Strong

04/20/2022 - 14:19:00 (RTTNews)

(RTTNews) - With the Federal Reserve's next monetary policy meeting looming, the central bank released its Beige Book on Wednesday.

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

The Fed noted consumer spending accelerated among retail and non-financial service firms, as Covid-19 cases tapered across the country.

Manufacturing activity was also described as "solid overall," although the Fed said labor market tightness and elevated input costs continued to pose challenges on firms' abilities to meet demand.

The elevated input costs came as inflationary pressures remained strong, with firms continuing to swiftly pass rising costs on to customers.

While firms were generally allowed to pass through higher input cost to customers due to strong demand, the Fed noted some districts saw negative sales impacts from rising prices.

With regard to the labor market, the Fed said employment increased at a moderate pace, as demand for workers continued to be strong across most districts and industry sectors.

However, the central bank said hiring was held back by the overall lack of available workers, with higher wages doing little to alleviate widespread job vacancies.

The release of the Beige Book comes two weeks before the Fed's next monetary policy meeting on May 3-4, when the central bank is widely expected to raise interest rates by another 50 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


Philippine Central Bank Raises Key Interest Rate (03 hr(s), 30 min(s), 13 sec(s) ago)
(RTTNews) - The Philippine central bank increased its benchmark interest rate for the first time i ...Full Story»

U.S. Existing Home Sales Slump More Than Expected In April (03 hr(s), 31 min(s), 13 sec(s) ago)
(RTTNews) - Existing home sales showed a significant decrease in the month of April, according to ...Full Story»

Dutch Jobless Rate Falls Further (04 hr(s), 33 min(s), 13 sec(s) ago)
(RTTNews) - Dutch jobless rate decreased for the fourth successive month in April to remain its lo ...Full Story»

Eurozone Construction Output Remains Flat In March (05 hr(s), 01 min(s), 13 sec(s) ago)
(RTTNews) - Eurozone construction output showed no variations in March, after rising in the previo ...Full Story»

Philly Fed Index Indicates Notably Slower Growth In May (05 hr(s), 13 min(s), 13 sec(s) ago)
(RTTNews) - Growth in Philadelphia-area manufacturing activity showed a significant slowdown in th ...Full Story»

Eurozone Current Account Balance Turns To Deficit In March (05 hr(s), 26 min(s), 13 sec(s) ago)
(RTTNews) - Eurozone current account balance swung to a deficit in March from a surplus in the pre ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Rise To 218,000 (05 hr(s), 34 min(s), 13 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly increased in the week en ...Full Story»

Philly Fed Index Slumps Much More Than Expected In May (06 hr(s), 20 min(s), 13 sec(s) ago)
(RTTNews) - Growth in Philadelphia-area manufacturing activity showed a significant slowdown in th ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Philippine Central Bank Raises Key Interest Rate

05/19/2022 - 11:32 AM (RTTNews)
(RTTNews) - The Philippine central bank increased its benchmark interest rate for the first time i ...Full Story>>

U.S. Existing Home Sales Slump More Than Expected In April

05/19/2022 - 11:31 AM (RTTNews)
(RTTNews) - Existing home sales showed a significant decrease in the month of April, according to ...Full Story>>

Dutch Jobless Rate Falls Further

05/19/2022 - 10:29 AM (RTTNews)
(RTTNews) - Dutch jobless rate decreased for the fourth successive month in April to remain its lo ...Full Story>>

Eurozone Construction Output Remains Flat In March

05/19/2022 - 10:01 AM (RTTNews)
(RTTNews) - Eurozone construction output showed no variations in March, after rising in the previo ...Full Story>>

Philly Fed Index Indicates Notably Slower Growth In May

05/19/2022 - 09:49 AM (RTTNews)
(RTTNews) - Growth in Philadelphia-area manufacturing activity showed a significant slowdown in th ...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.