Beige Book Charts Growth in US Economy

December 3rd, 2015

Beige Book Charts Growth in US Economy

 

The Federal Reserve just released its December Beige Book report, reflecting economic data from October and November.  The report found “modest” growth across the majority of the 12 Federal Reserve Districts. At remarks yesterday before the Economic Club of Washington, Federal Reserve Chair Janet Yellen said, “I think the economy is on the road to recovery…we are doing well.” The Beige Book findings will likely reinforce the Federal Reserve’s Federal Open Market Committee’s (FOMC) to raise interest rates at the upcoming meeting on December 15 and 16, 2015.

The Beige Book report breaks down performance across different sectors of the economy. Consumer spending increased since the release of the last report. The housing market also improved at a “moderate pace.” Loan demand increased and several Districts reported a “pickup in hiring.”

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