The Federal Reserve published its October Beige Book, or Economic Trends Report, which states that economic activity remained unchanged for the month of September in most of the 12 regions in charge of the Federal Reserve Bank in the United States.
In particular, it diagnosed that employment increased slightly overall during the survey, and that employment increased somewhat modestly in more than half of the regions.
U.S. employment growth in September, previously announced earlier this month, significantly exceeded market expectations, suggesting that the U.S. economy could continue to grow strongly, contrary to concerns that the U.S. labor market could quickly weaken.
The Beige Book is a report compiled by 12 U.S. Fed banks in contact with businesses and experts to collect economic trends, usually published two weeks before the Federal Open Market Committee meeting, which sets monetary policy.
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