Its latest Beige Book released Wednesday contained anecdotes from its 12 districts on their regional economies.
Most places noted that the gap between the number of jobs and people available to work was shrinking, meaning the labor markets were tightening.
More demand for workers also meant modestly higher wages, according to the Fed’s districts. Markets like Richmond and Atlanta reported higher wages for lower-skilled workers, while minimum-wage pressures were felt in San Francisco.
The wage pressures came as overall economic growth trudged along. From April through mid-May, the districts’ economies grew modestly at best, while Chicago and Kansas City slowed.
It’s not a hard data release, but the Beige Book gives us a sense of what is informing the Fed’s outlook on consumer spending, the housing market, manufacturing, inflation and other key areas.
... read more at: http://www.businessinsider.com/fed-beige-book-june-1-2016-6