by Ann Saphir and Michael S. Derby
(Reuters) – U.S. economic growth has been “modest” in recent weeks while job market growth has been “moderate”, a report from the Federal Reserve (Fed) said on Wednesday. , which also notes that inflation has slowed in much of the United States.
In its “beige book” summarizing the surveys and interviews conducted in its twelve districts up to August 28, the US central bank wrote that “virtually all districts indicated that companies have reiterated their expectations, so far not materialized, a broad slowdown in wage growth over the medium term”.
The publication of the document comes two weeks before the Fed’s next monetary policy meeting, when a pause in the rate hike campaign should be decided, according to a large majority of traders.
While some are expecting an additional rate hike by the end of the year, financial market players are betting on an end to the monetary tightening cycle launched by the Fed eighteen months ago.
However, for the time being, most US central bank officials are not convinced that this rate hike campaign, intended to bring inflation back towards its 2% target, has come to an end.
(Report Ann Saphir; Jean Terzian)
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