Jefferies economist Tom Simons said the.....>

US VIEW: Jefferies economist Tom Simons said the Fed Beige Book was "based on

information collected on or before Oct. 6", and cited "overall growth" as

"modest or moderate in all 12 districts, including Richmond, Atlanta, and

Dallas, where Hurricanes Harvey and Irma generated major disruptions. The Beige

Book was compiled by the Federal Reserve Bank of Minnesota."

- He said Beige Book described the "economy as growing at a modest to moderate

pace has been the case for many renditions of the Beige Book over the past

year." It "noted continued moderate wage growth despite an intensified shortage

of labor across several industries as well as indications that prices as well as

input costs are rising across the country at a moderate rate. Areas affected by

the hurricanes are expected to experience more intense labor shortages, wage

pressure, and inflation pressure than the rest of the country."