Archive for the ‘Kansas City’ tag
U.S. Fed’s Beige Book is Downbeat, But Few Surprises
Economic conditions across the U.S. “slowed somewhat,” according to
the Fed’s Beige Book on Wednesday. Five of the 12
districts were said to have weakened since the last report six weeks ago,
while Chicago’s economy was “sluggish” and growth in Kansas City had
moderated. The remaining three districts saw slight increases in
activity.
Residential real estate markets “remained sluggish in
a majority of districts,” the report said, with residential real estate
lending and consumer lending showing more weakness than commercial
lending.
Kansas Fed’s Hoenig Concerned Inflation May Prompt Interest Rate Hike
Kansas City Fed President Thomas Hoenig (non-voter) says that
inflation is becoming embedded in the economy and that
may compel a significant interest rate hike. In a speech
in Denver, Colorado, Hoeing that consumers are showing an “inflation
psychology to an extent that I have not since the 1970s and early
1980s.”