- Economic conditions have improved modestly since last report
- 8 of 12 districts saw improvement
- Labor market weak though signs of stabilization and scattered improvement
- Consumer spending rising moderately
- Commercial real estate, construction very weak
As expected, the Beige Book shows a very moderate pick up in demand but not much improvement in the labor market. Looks like very little to dissuade the Fed from keeping rates low for a long time to come.
Rates are steady with EUR/USD at 1.5044 and USD/JPY at 87.30.
