The Federal Reserve said on Wednesday that in the period from late February to early April, the US economy continued to expand, and low unemployment has stimulated the growth of wages in some districts of the country.
The growth of hourly wages was registered in eleven out of 12 districts of the United States, while several federal banks reported signs of growth rate - the Fed said the economic survey, whose official name is "Summary of Comments on the current economic situation in the Federal Reserve districts."
"Beige Book" gives reason for optimism, so for caution about the US economic outlook. In most districts there was a slight increase in consumer spending.
Production volumes increased in most regions, there is, however, expectations of future growth remains uncertain. The Fed also noted that with regard to the labor market, is to provide the health sector, where the employment rate showed strong growth in the number of federal districts.
The heads of the Federal Reserve Bank of Boston, Cleveland and St. Louis reported a "significant" increase in the wages of workers in the field of information technology, construction and production.
Federal Bank of Philadelphia President stated that employers have raised the initial wage rates to attract more skilled workers. In Chicago, employers increased salaries for unskilled entry-level workers.
The next meeting of the Federal Open Market Committee, the Fed will be held April 26-27. According to forecasts of the US central bank officials, this year's rates will be increased twice, while investors do not expect any changes to the Fed's monetary policy until December.
"Beige Book" US Federal Reserve Federal Reserve Bank of Chicago, compiled on the basis of data collected in the period up to April 7, 2016.