Fed's Beige Book: Economy expanded at a slight-to-moderate pace in March and early April


In its latest "Beige Book" report, a broad view of the U.S. economy based on surveys with business contacts across all 12 of its districts, the Federal Reserve said that the economy continued to expand at a slight-to-moderate pace in March and early April.

Key quotes (via Reuters)

  • Most Fed districts said growth continued at a similar pace as in previous report, but a few reported some strengthening.
  • Employment continued to increase nationwide, with nine districts reporting modest or moderate growth and the other three reporting slight growth.
  • Majority of districts cited shortages of skilled laborers, most commonly in manufacturing and construction.
  • Tight labor market led to continued wage pressures, with most districts reporting moderate wage growth.
  • Prices on balance have risen modestly since the last report.
  • Reports on consumer spending were mixed but suggested sluggish sales for both general retailers and auto dealers.
  • Reports on manufacturing activity were favorable, although contacts in many fed districts noted trade-related uncertainty.
  • Input costs increased in a modest-to-moderate range, with tariffs, freight costs and rising wages often cited as key factors driving that trend.
  • Some Fed districts noted increasing fuel prices, while others noted increasing oil prices and decreasing natural gas prices.
  • A few government contractors in Fed's Richmond district said business was starting to return to normal after being negatively impacted by the federal government shutdown.
  • Agricultural conditions remained weak among reporting districts, with contacts expressing concerns over the impact of current and future rainfall and flooding.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD trims early gains, dangerously close to 1.1200

The positive tone of the pair fades in the American afternoon as demand for the dollar resumes, despite softer-than-expected US data. All eyes on the Fed this week.

EUR/USD News

GBP/USD extends decline, pierces 1.2550

Despite moving in slow-motion, GBP/USD decline is continuous with the pair trading at levels last seen in January, amid political uncertainty weighing on Sterling.

GBP/USD News

USD/JPY remains directionless above mid-108s on Monday

The USD/JPY pair is struggling to make a decisive move in either direction on Monday as the slightly upbeat market sentiment doesn't allow the safe-haven JPY to gather strength.

USD/JPY News

Gold remains on track to close with small losses below $1340

The XAU/USD pair, which closed higher on the weekly chart for the fourth straight time last week, is fluctuating in a relatively tight range on Monday amid a lack of significant fundamental drivers that had a lasting impact on the greenback's market valuation or the risk perception.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more

Majors

Cryptocurrencies

Signatures