U.S. Economy Continued to Expand

The Beige Book reports modest price increases across most Fed districts, indicating economic growth. The labor market remains tight with a 5% unemployment rate, and companies struggle to fill both low and high-skilled jobs. Wage growth varies, with stronger pressures in some regions. The Beige Book relies on anecdotal information, making it difficult to quantify terms like 'modest' and 'moderate.' Overall, the domestic economy shows signs of improvement, but external risks remain unaddressed.

What is the significance of the wage growth figures mentioned in the Beige Book?

What external factors does the Fed Beige Book indicate may affect the domestic economy?