U.S. economy expanded in April, May — Fed
Wage pressures, consumer prices appear tame
The U.S. jobs picture showed signs of improvement in April and May, the Federal Reserve said Wednesday, as potentially worrisome wage pressures and consumer prices appeared tame.
“Reports from the Federal Reserve Banks indicate that economic activity in April and May continued to expand across the nation,” the Fed said in its “beige book” report, an anecdotal look at the U.S. economy as seen through the eyes of its 12 regional banks.
“Employment activity continued to improve, with hiring increasing at a faster pace in most districts; meanwhile, wages and salaries experienced little or muted upward pressures,” the Fed said.
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“Reports from the Federal Reserve Banks indicate that economic activity in April and May continued to expand across the nation,” the Fed said in its “beige book” report, an anecdotal look at the U.S. economy as seen through the eyes of its 12 regional banks.
“Employment activity continued to improve, with hiring increasing at a faster pace in most districts; meanwhile, wages and salaries experienced little or muted upward pressures,” the Fed said.
External Source - For the complete article click here
