WASHINGTON, October 19 (Reuters) – The u.s. economy is characterized by a certain degree of upward pressure on wages in September and early October, but this does not prevent the increase in the wages as a whole remain modest, said on Wednesday the federal Reserve in its “beige Book”.
Without this observation, calling into question the willingness of the american central bank to raise interest rates by the end of the year, it does not offer an argument franc in favour of a turn of the screw on monetary.
“The wage growth is more or less maintained at modest levels, although a few districts reported upward pressures in some sectors,” said the Fed in the beige Book, a document which takes stock of the recent economic conditions in the United States.
The Fed also notes that most of its 12 antennas distributed across the country have seen the pace of growth of economic activity ranging from modest to moderate and that household consumption provides a mixed picture.
The responsible monetary are on the lookout for signs that the pressures on wages are on the rise, given that the unemployment rate is of the order of 5.0%.
After its last monetary policy meeting, which was held in September and that ended in a status quo, the Fed had hinted that it would raise its key rate before the end of 2016 provided that the employment market continues to improve and inflation continues to rise.
The Fed noted that the rise in prices as a whole remained slight.
The beige Book was produced by the Dallas Fed on the basis of data collected prior to the 7 October. The next meeting of the monetary policy of the Fed is in two weeks. Most investors see rising rates occur during the December meeting. (Lindsay Dunsmuir, Benoit Van Overstraeten for the French service)
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