The Federal Reserve’s latest Beige Book, released on June 3, paints a picture of an economy that’s moving, just not very fast. Ten of twelve Federal Reserve districts reported slight to moderate economic growth through late May, while one district posted a slight decline and another flatlined entirely.
A low-hire, low-fire labor market
Eleven of twelve districts reported little change in employment levels. Only one district managed to eke out modest job growth. Wage growth came in at a modest to moderate pace.
The Beige Book relies on anecdotal evidence rather than hard statistical data, gathered through late May and prepared by the Federal Reserve Bank of Kansas City.
Inflation isn’t accelerating, but it isn’t going away
