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FED: Beige Book: Activity Still Sluggish, No Game-Changer For Fed (1/2)

FED

The Fed's October Beige Book overall doesn't appear to change the narrative of slower economic growth depicted in September's collection of regional anecdotes, but job gains appear to have been marginally firmer while inflation pressures may have been marginally softer. The labor market element alone probably makes this Beige Book slightly hawkish in terms of the FOMC's November rate decision outlook, but with few dramatic changes over the preceding 6 weeks it is unlikely to be a game-changer compared with the unexpectedly weak September edition.

Economic activity was "little changed in nearly all Districts since early September, though two Districts reported modest growth". 

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The Fed's October Beige Book overall doesn't appear to change the narrative of slower economic growth depicted in September's collection of regional anecdotes, but job gains appear to have been marginally firmer while inflation pressures may have been marginally softer. The labor market element alone probably makes this Beige Book slightly hawkish in terms of the FOMC's November rate decision outlook, but with few dramatic changes over the preceding 6 weeks it is unlikely to be a game-changer compared with the unexpectedly weak September edition.

Economic activity was "little changed in nearly all Districts since early September, though two Districts reported modest growth". 

Keep reading...Show less