After leaving the interest rates constant at the last meeting, the FED published the details of the Beige Book document today at 21:00 Turkey time (UTC+3).
Here are the most important excerpts from the just published FED Beige Book:
- This report was prepared at the Federal Reserve Bank of Dallas based on information collected on or before May 20, 2024.
- National economic activity continued to expand from early April to mid-May; however, conditions differed across sectors and regions.
- Overall outlooks have become slightly more pessimistic due to increased uncertainty and increased downside risks.
- Prices increased at a modest pace during the reporting period.
In this collection of anecdotes from regional Fed bank reports, the focus is on the strength of the economy, job creation, and what they say about wage growth and inflation. The findings could have an impact on expectations for April PCE Price Index data on Friday.
Employment generally increased at a slight pace. Eight regions reported negligible or modest job gains, while the remaining four reported no change in employment.
*This is not investment advice.
