US economy: stable economy and the tightest labor market in years - UOB

Analysts at UOB Group noted that according to the latest Fed Beige Book, economic activity grew at a measured pace across the country in September and October.

Key Quotes:

"According to the latest Fed Beige Book, economic activity grew at a measured pace across the country in September and October. despite sector-wide disruptions caused by recent hurricanes in the Southern and Eastern US. 

The pace of growth was split between moderate and modest among the Fed’s 12 districts. A stable economy and the tightest labor market in years, however, did little to move the needle on inflation. The Fed characterized the increase in wages and the cost of materials as “modest”."