July Rate Hike Odds Rise As Beige Book Signals “Tight Job Market”, “Modest Growth”

from Zero Hedge

The Beige Book offered its ubiquitous modest, moderate, mummified growth outlook but added a few points that provide The Fed more ammo for hiking rates.

The key higlights from the report:

  • tight labor markets ‘widely noted’ amid modest growth
  • U.S. employment, wages grew modestly since mid-april
  • price pressures grew slightly in most districts
  • contacts in several district ‘generally optimistic’
  • consumer spending up modestly, manufacturing mixed
  • construction, real estate grew, outlook remained positive
  • loan demand up moderately except for Dallas district
  • many Fed districts reported steady to good credit availability
  • energy sector remained weak
  • Chicago, Kansas city Fed districts saw slower growth pace
  • Dallas Fed district grew ‘marginally,’ New York generally flat

Some key anecdotes from the regional feds:

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