Highlights of the January 14, 2015 Beige Book:
- Modest to moderate growth in most districts
- Economic activity continued to expand in November and December
- Saw modest retail sales gains with advances in most areas
- Payroll gains expanded moderately in a variety of sectors
- Demand for energy-related industries weakened somewhat
- Manufacturing activity expanded in most districts
- Consumer spending continued to advance in most districts
- Full text
In the most-recent Beige Book, from Dec 3, the Fed said job gains were ‘widespread’ across Fed districts.
There isn’t much here to give anyone a reason to trade. The comment on wage pressures stands out to me and it will help to keep the Fed ‘patient’ at the meeting at the end of the month.
