The FED Said Overall Economic Activity Economic activity expanded modestly from October through mid-November, similar to the pace of growth seen over the prior reporting period. Most Districts reported stable to moderately growing consumer spending, and increases in auto sales and tourism were seen across several Districts. In manufacturing, more Districts reported an expansion in […] Read more

The FED Said You’ve heard of “the 1 percent.” Veronika Penciakova has been pondering the economic significance of the 0.1 percent. That figure does not refer to the ultra-wealthy. Rather, it represents the tiny fraction of U.S. companies that are financed by venture capital. Despite their small number—some 8,000 firms received venture capital in 2018—those […] Read more

The FED Said   Overall US Economic Activity The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country. Reports from Districts representing states in the southern and western U.S. generally were more upbeat than Districts representing the Midwest and Great Plains. Household spending was […] Read more

  The FED Said The word cycle contains the notion of regularity. Yet one of the most important cycles of all, the business cycle, is anything but predictable. Plainly put, the business cycle is how economists refer to the inevitable ups—expansions— and downs—contractions, or recessions—of economic activity over time. But determining exactly when a cycle ends and […] Read more

The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts indicated that economic activity softened slightly during the reporting period. Many firms noted persistent challenges with filling positions. Annual wage increases remained between 3-4 percent, on average, and businesses across the District continued to report increased nonlabor input costs. […] Read more

The FED Said The Atlanta Fed’s Wage Growth Tracker has shown an uptick during the past several months. The 12-month average reached 3.7 percent in June, up from 3.2 percent last year. But in 2016, it depicted acceleration that eventually reversed course. So is this recent increase real or illusory? Although using a 12-month average quiets much […] Read more

The FED Said Ransomware attacks have only continued since I addressed the problem in a recent post, and they’ve continued to target municipal and state agencies. Riviera Beach (May) and Lake City (June), both in Florida, were successfully attacked. Lake City paid a bitcoin ransom of approximately $470,000 while Riviera Beach paid about $600,000, also in […] Read more

The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity On balance, reports from Sixth District business contacts indicated that economic activity continued to expand at a modest pace from mid-May through June. Although contacts shared concerns over uncertainty related to tariffs, the overall outlook among businesses remains positive as most expect continued […] Read more

The FED Said Spring brought a lift to home sales, according to the latest Federal Reserve Beige Book report  of economic conditions. Economic activity expanded reasonably from mid-May to June, and most business contacts have a positive outlook for growth in the second half of the year. Tariffs continue to cause concern for some sectors. Residential […] Read more

The FED Said One day a single mother in Florida phoned Brittany Birken with a vexing dilemma. The woman’s employer was offering a dime-an-hour raise, a material boost at her low wage. But the woman, who had two children under five years old, was unsure whether to accept the pay hike because the additional income […] Read more