Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Silver Market Is at a Critical Juncture - 3rd Jul 20
Gold Stocks Breakout Not Confirmed Yet - 3rd Jul 20
Coronavirus Strikes Back. But Force Is Strong With Gold - 3rd Jul 20
Stock Market Russell 2000 Gaps Present Real Targets - 3rd Jul 20
Johnson & Johnson (JNJ) Big Pharma Stock for Machine Learning Life Extension Investing - 2nd Jul 20
All Eyes on Markets to Get a Refreshed Outlook - 2nd Jul 20
The Darkening Clouds on the Stock Market S&P 500 Horizon - 2nd Jul 20
US Fourth Turning Reaches Boiling Point as America Bends its Knee - 2nd Jul 20
After 2nd Quarter Economic Carnage, the Quest for Philippine Recovery - 2nd Jul 20
Gold Completes Another Washout Rotation – Here We Go - 2nd Jul 20
Roosevelt 2.0 and ‘here, hold my beer' - 2nd Jul 20
U.S. Dollar: When Almost Everyone Is Bearish... - 1st Jul 20
Politicians Prepare New Money Drops as US Dollar Weakens - 1st Jul 20
Gold Stocks Still Undervalued - 1st Jul 20
High Premiums in Physical Gold Market: Scam or Supply Crisis? - 1st Jul 20
US Stock Markets Enter Parabolic Price Move - 1st Jul 20
In The Year 2025 If Fiat Currency Can Survive - 30th Jun 20
Gold Likes the IMF Predicting a Deeper Recession - 30th Jun 20
Silver Is Still Cheap For Now - 30th Jun 20
More Stock Market Selling Ahead - 30th Jun 20
Trending Ecommerce Sites in 2020 - 30th Jun 20
Stock Market S&P 500 Approaching the Precipice - 29th Jun 20
APPLE Tech Stock for Investing to Profit from the Machine Learning Mega trend - 29th Jun 20
Student / Gamer Custom System Build June 2020 Proving Impossible - Overclockers UK - 29th Jun 20
US Dollar with Ney and Gann Angles - 29th Jun 20
Europe's Banking Sector: When (and Why) the Rout Really Began - 29th Jun 20
Will People Accept Rampant Inflation? Hell, No! - 29th Jun 20
Gold & Silver Begin The Move To New All-Time Highs - 29th Jun 20
US Stock Market Enters Parabolic Price Move – Be Prepared - 29th Jun 20
Meet BlackRock, the New Great Vampire Squid - 28th Jun 20
Stock Market S&P 500 Approaching a Defining Moment - 28th Jun 20
U.S. Long Bond: Let's Review the "Upward Point of Exhaustion" - 27th Jun 20
Gold, Copper and Silver are Must-own Metals - 27th Jun 20
Why People Have Always Held Gold - 27th Jun 20
Crude Oil Price Meets Key Resistance - 27th Jun 20
INTEL x86 Chip Giant Stock Targets Artificial Intelligence and Quantum Computing for 2020's Growth - 25th Jun 20
Gold’s Long-term Turning Point is Here - 25th Jun 20
Hainan’s ASEAN Future and Dark Clouds Over Hong Kong - 25th Jun 20
Silver Price Trend Analysis - 24th Jun 20
A Stealth Stocks Double Dip or Bear Market Has Started - 24th Jun 20
Trillion-dollar US infrastructure plan will draw in plenty of metal - 24th Jun 20
WARNING: The U.S. Banking System ISN’T as Strong as Advertised - 24th Jun 20
All That Glitters When the World Jitters is Probably Gold - 24th Jun 20
Making Sense of Crude Oil Price Narrow Trading Range - 23rd Jun 20
Elon Musk Mocks Nikola Motors as “Dumb.” Is He Right? - 23rd Jun 20
MICROSOFT Transforming from PC Software to Cloud Services AI, Deep Learning Giant - 23rd Jun 20
Stock Market Decline Resumes - 22nd Jun 20
Excellent Silver Seasonal Buying Opportunity Lies Directly Ahead - 22nd Jun 20
Where is the US Dollar trend headed ? - 22nd Jun 20
Most Shoppers have Stopped Following Supermarket Arrows, is Coughing the New Racism? - 22nd Jun 20

Market Oracle FREE Newsletter

AI Stocks 2020-2035 15 Year Trend Forecast

Fed’s Beige Book Paints a Rosier U.S. Economic Picture as Employment Improves

Economics / US Economy Jan 20, 2012 - 02:44 AM GMT

By: Dr_Jeff_Lewis

Economics

The U.S. Federal Reserve Bank released its latest Beige Book on Wednesday, January 11th. In it, U.S. central bank officials included in the survey indicated that U.S. economic conditions in their respective regions seemed to have improved somewhat in December of 2011 compared with conditions observed the previous month.


The Fed's Beige Book is released eight times per year several weeks ahead of the next Federal Open Market Committee (FOMC) meeting. This particular Beige Book report was put together by staff at the San Francisco Federal Reserve Bank for the January 24-25th FOMC meeting.

More formally entitled, "Current Economic Conditions", the Beige Book report generally contains anecdotal evidence compiled from information supplied by staff at the twelve regional Federal Reserve banks about economic conditions in their district.

Financial and precious metals markets tend to focus on the Beige Book because FOMC members reportedly use this public document, along with its private and potentially more significant Green and Blue books, to influence their future interest rate decisions.

U.S. Economic Activity Improved in December

Specifically, the closely watched report noted that U.S. economic activity gained "at a modest to moderate pace" in December.  This showed an improvement versus the November Beige Book that indicated slow economic growth in some Federal Reserve districts.

Furthermore, the report observed that U.S. retail sales over the key December holiday period had improved "noticeably" versus the previous year's sales data. In addition, car sales were reported as especially strong, and the demand for non-financial services remained buoyant.

Fed Sees Subdued Inflation

With respect to price and wage pressures that could result in rising inflation, the Fed's report characterized them as "quite limited", despite relatively high commodity price levels.  Also, real estate values remained depressed, but seemed to have stabilized, and bank lending increased.

The report noted that wages and other labor costs were largely stable due to relatively low hiring levels and a persistently high U.S. Unemployment Rate, although jobs data has shown a favorable trend in the United States since late 2009.

Latest Jobs Report Shows U.S. Employment Picture Gradually Improving.

In its most recent Employment Report, the U.S. Unemployment Rate for December was reported by the U.S. Bureau of Labor Statistics on January 6th at the 8.5% level. This result showed a welcome improvement from the 8.7% number seen for the previous month.

In addition, U.S. Non-Farm Payrolls for December showed an impressive rise of 200K that was considerably better than market analysts' consensus of 150K. Nevertheless, the previous month's 120K result was revised lower to 100K.

The percent of U.S. workers actively seeking employment peaked at 10.2% in November of 2009 and has since gradually declined.  Nevertheless, the headline employment number remains on the high side since its lowest level since the new millennium began was seen in late 2000 when it fell to a mere 3.9%.

By Dr. Jeff Lewis

    Dr. Jeffrey Lewis, in addition to running a busy medical practice, is the editor of Silver-Coin-Investor.com and Hard-Money-Newsletter-Review.com

    Copyright © 2012 Dr. Jeff Lewis- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules