U.S. job growth picks up, but hiring remains widespread challenge, Fed Beige Book says
Beige Book from Minneapolis Fed: Several workforce contacts suggested that employers might be delaying wage hikes in hopes of a surge of newly vaccinated job seekers. "Why start raising wages when a lot of labor might be coming back?" h/t @atanzi
US Mar import prices +1.2%mom/+6.9%yoy, > exp Beige Book: activity accelerated at moderate pace, widespread reports of increased selling prices Fed speakers incl Powell dovish, Powell confirming tightening sequence: taper then rate hikes (conditional on objectives) (ISI chart)
Dow gains but misses out on record as Fed's Beige Book points to U.S. growth
The Beige Book — economics by talking to people — is one of the Fed's more interesting institutions. It seems especially useful now, when conventional economic measures are having a hard time dealing with crazy times 1/
Fed Beige Book says economy has contracted ‘sharply and abruptly’ due to coronavirus, adding that "severe" job cuts were widespread with loan demand high in most Fed districts
Breaking Economic News: Some many job openings Fed 'Beige Book' report shows economic performance in every region. St. Louis some local employers have begun relaxing drug-testing standards and reducing restrictions on hiring convicted felons in order to alleviate labor shortages.
Fed announces changes to the Beige Book, beginning in 2017: