Fed's Beige Book

The Federal Reserve recently released its Beige Book, with key headlines, found below:

• Economic activity expanded at modest to moderate pace in Sept through early Oct
• Richmond, Atlanta, and Dallas districts reported 'major disruptions' from hurricanes Harvey and Irma in some areas and sectors, including transportation, energy, and agriculture
• Manufacturing activity expanded modestly to moderately in most districts
• Employment growth was modest on balance
• Many districts had difficulty finding qualified workers, restraining business growth
• Despite tight labor market majority of districts saw only modest to moderate wage pressures
• Price pressures remained modest