Fed’s Beige Book noted that outlook generally was “positive for the coming months” with expectations of “continued modest growth”. Though, there were “widespread concerns about the possible negative impact of trade-related uncertainty”.
Employment grew at a “modest pace” but “slightly slower” than previous reporting period. Compensation grew at a “modest-to-moderate pace” but some contacts “emphasized significant increases in entry-level wages”.
Rate of price inflation was “stable to down slightly” from prior period. Districts generally saw “some increase in input costs, stemming from higher tariffs and rising labor costs”. However, the ability to pass on to final prices was “restrained by brisk competition”.
