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Beige Book: Economic Activity Expanded at Moderate Pace

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  • Description

    FBN's Peter Barnes reports on the latest Beige Book release.

  • Duration 1:46
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-- -- I -- nationally were looking for some confirmation in this Beige Book for the big drop off -- jobs creation that we saw in the Friday unemployment report for May.

But frankly we're not finding -- not finding any confirmation of that this is the survey of economic conditions from early April to late may that the FOMC will use at its next meeting in two weeks.

And since the week Friday's jobs report more analyst thinks that the FOMC has now more likely to consider additional stimulus moves such as another round of quantitative easing.

The Beige Book says quote overall economic activity expanded at a moderate pace during the reporting period.

On jobs the report says quote hiring -- steady or increased slightly.

Now more bank lending might suggest may be more job creation down the road of companies are borrowing to invest in operations.

And the Beige Book reported steady or slightly stronger loan demand but get this about the New York fed district.

Quote small and medium size banks in the district reported the most broad based increase in loan demand.

Since the mid 1990s.

You guys up they're buying and real estate investing in real estate or something really going on burns -- -- a state Howell.

I just can't demand is up doesn't necessarily mean the loans are being issued Babs very rare but but -- also pleaded not a bad report overall at least it's.

You know honestly okay as -- I'm getting from it.

Yeah I -- I -- it's just that that that term moderate is the kind of language we've seen in the previous Beige Book report so it doesn't look like.

Like the Fed is is did that that the banks are downgrading.

-- forecast.

It about these -- little kind.

Moderate expansion -- not contraction that's the main thing as --

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