Options Wonderland

[3xBuBu]

FED Reserve's latest Beige Book: The economy is still progressing at a 'modest' pace
The release is a compilation of economic anecdotes from across the Fed's 12 districts and covers areas ranging from real estate to employment. It's prepared ahead of the Fed's policy meetings and informs the discussions that take place there.

This release, compiled on or before August 29, showed that consumer spending, which accounts for much of the economy's progress, remained little changed.

Labor markets in most districts remained tight, the Fed said, which increased wage pressures and gave workers with highly specialized skills higher salaries.

The Fed cautioned about potential overvaluation in the market for commercial real estate in the minutes of its August meeting. In the Beige Book, it said market activity expanded in most districts.

Agricultural producers in many districts said lower prices amid huge yields pushed down their revenues.

The focus of markets right now, however, is on what the Fed does at its upcoming meeting from September 20-21. Most market participants anticipate that the Federal Open Markets Committee will hold off on raising interest rates until its meeting in December.

Here's the full text:

http://www.businessinsider.com/fed-beige-book-september-7-2016-9