Beige Book
The September Beige Book was one of the final straws that pushed the Fed towards cutting rates by 50 basis points later that month. The next edition is due at the top of the hour.
In that report, economic activity was said to growth slightly in three Districts, while nine reported flat or declining activity.
Other descriptions in that report:
- Employment levels held steady overall, though some firms are becoming more selective in hiring amid economic uncertainty
- Wage growth was modest, while price increases ranged from slight to moderate.
- Consumer spending ticked down in most Districts, with auto sales showing mixed results
- Manufacturing activity declined in most areas, continuing a trend of contraction in the secto
