US Economic Outlook Remains Healthy, According To Fed Beige Book
“Mostly positive”—those are the words that describe the health and outlook of the US economy, according to the Fed’s latest Beige Book.
The report says the US economy maintained a steady growth rate between late August and early October while a tight labor market is starting to push wages up, Bloomberg reports. Yet despite a tight labor market, inflation is still shy of the Fed’s 2% target.
The report also notes commercial real estate contacts in several districts are concerned about economic uncertainties surrounding the outcome of the US presidential election. Looking forward, investors only see a 17% chance the Fed will raise interest rates in November, yet they forecast more than a 60% chance it will hike rates during the Dec. 13-14 meeting. [Bloomberg]