Fed Beige Book shows ‘mostly positive’ outlook for US economy

(Oct 20): The US economy maintained a steady growth pace between late August and early October, as a tight labour market with nascent wage pressures contributed to a “mostly positive” outlook, a report from the 12 Federal Reserve districts showed.

“Most districts indicated a modest or moderate pace of expansion,” according to the Fed’s latest Beige Book, an economic survey by reserve banks. “Outlooks were mostly positive, with growth expected to continue at a slight to moderate pace in several districts.”

The job market “remained tight” with modest employment and wage growth, according to the report released Wednesday in Washington. In the San Francisco district, some small business owners said they needed to bring back health-care benefits to attract applicants.

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