GO
Loading...

Fed's Beige Book: Economic Activity Continued to Expand in May

Reuters
Wednesday, 13 Jun 2007 | 4:09 PM ET

U.S. economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the Federal Reserve said on Wednesday.

Beige Book
Good growth and little inflation is the word from the most recent Beige Book, with Steve Liesman, CNBC sr. economics editor; Michael Darda, MKM Partners chief economist and CNBC's Erin Burnett

Seven Fed districts described growth as modest or moderate, while others reported growth as moderately strong, edging up, or somewhat faster than in recent months, according the Fed's Beige Book summary of anecdotal economic conditions.

The Fed said overall wage pressures had not increased, but added that there were "significant" price increases for energy-related products.

However, districts generally did not indicate an increase in overall price pressures, the U.S. central bank said.

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • CNBC's Jim Cramer explains why he is watching the oils, including Baker Hughes, Pioneer Natural Resources and EOG Resources.

  • In this clip from the March 10, 2009 edition of CNBC's Squawk on the Street, the late Mark Haines tells Erin Burnett, "I think we're at a bottom. I really do." As the credit crisis continued to swirl, the Dow had closed the day before at 6,547.05, a staggering 54 percent plunge from its all-time closing high above 14,000 in October of 2007. It was "going out on a limb" at the time, but has proved to be one of the best market calls ever heard on CNBC. March 9 turned out to be the bear market closing low. In the three years since Mark's call, the Dow has almost doubled.

  • CNBC's Rick Santelli and the traders on the floor of the CME Group express outrage over the notion they may have to pay their neighbor's mortgage, particularly if they bought far more house than they could actually afford, with Jason Roney, Sharmac Capita