15 Jul 2015
Fed’s Beige Book: Economy expanded in all 12 districts
FXStreet (Córdoba) - Fed’s Beige Book showed economic activity expanded in all twelve Federal Reserve Districts from mid-May through June. Growth was described as “modest” or “moderate.”
Across Districts, employment levels increased or were steady in most sectors, although there were some reports of layoffs in manufacturing and energy industries. Most Districts cited only modest wage pressures while prices for inputs and finished goods remained steady.
The report was in line with Federal Reserve Chair Janet Yellen comments earlier Wednesday, who said the Fed was still on track to raise rates this year.
"If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy," Yellen said in her semiannual testimony to Congress.
The Beige Book is a survey that summarizes anecdotal information from outside of the Federal Reserve System. July report was prepared by the Federal Reserve Bank of Atlanta and based on information collected before July 3, 2015.
Across Districts, employment levels increased or were steady in most sectors, although there were some reports of layoffs in manufacturing and energy industries. Most Districts cited only modest wage pressures while prices for inputs and finished goods remained steady.
The report was in line with Federal Reserve Chair Janet Yellen comments earlier Wednesday, who said the Fed was still on track to raise rates this year.
"If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy," Yellen said in her semiannual testimony to Congress.
The Beige Book is a survey that summarizes anecdotal information from outside of the Federal Reserve System. July report was prepared by the Federal Reserve Bank of Atlanta and based on information collected before July 3, 2015.