Filed under: Economic Data
This afternoon, the Federal Reserve Bank released its latest Beige Book reading on the current state of American economic conditions. The good news is that the survey reported modest economic growth across the Fed’s 12 regional districts. The bad news is that the Beige Book found no signs of an increase in hiring. The Beige Book found “Many firms reluctant to add to permanent payrolls given economic softness.”
Why is the Beige Book important? Many experts feel that this report gives the Fed a better read on the current economic conditions, which could give some hint as to what action the Central Bank will take when it meets next in early November. Judging by the tepid reaction on the Street, this report lent little credence to any belief that the Fed will take any noticeable action.
Continue reading Fed’s Beige Book Shows Moderate Growth, Market Doesn’t React
Fed’s Beige Book Shows Moderate Growth, Market Doesn’t React originally appeared on BloggingStocks on Wed, 20 Oct 2010 16:40:00 EST. Please see our terms for use of feeds.
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