Fed Beige Book finds increasing wage pressures

WASHINGTON ( MarketWatch) - The Federal Reserve's Beige Book indicated growing wage pressure in the U.S. economy, a development that could impact the central bank's deliberations at the upcoming September interest-rate-setting meeting. The report said that "several" of the 12 district banks "reported increasing wage pressures caused by labor market tightening." Earlier Beige Book reports this year have found only higher pay in isolated sectors and other labor market data has shown no sign of higher wage pressure so far this year. Wage pressures could give Fed officials more confidence that......(read more)

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