Beige Book: Job Gains Widespread Across Fed Districts

The US economy is showing positive growth, as reported in the Federal Reserve's Beige Book. Economic activity expanded in October and November, with consumer spending and employment gains noted across districts. Wage and price inflation remain subdued, though there are slight increases in labor costs. Concerns include the impact of falling energy prices on the oil industry. Overall, the outlook is solid, influencing the Federal Reserve's decision on interest rates.

What factors contributed to the increase in consumer spending according to the Beige Book?

• Rising stock market and summer sales

• Increased taxes and holiday season

• Higher interest rates and warm weather

• Lower gas prices and early cold weather

Which sectors showed widespread employment gains?

• Hospitality and tourism

• Healthcare and education

• Wall Street and tech

• Retail and agriculture

How did the Beige Book describe wage and price inflation?

• Erratic and unpredictable

• Non-existent and stable

• Subdued and moderate

• Rapid and concerning

What was a concern for the oil industry in certain districts?

• Increased competition

• Lower oil prices

• Decreased demand for oil

• Rising energy prices

What variation was observed in the construction and real estate activity?

• Uniform growth across all regions

• Decline in urban areas

• Stagnation in rural areas

• Variation across sectors and regions