Fed's Beige Book: Price pressures have strengthened since last report

Below are the key headlines from the Fed's Beige Book, which provides a detailed economic assessment in all of the twelve Federal Reserve districts.

Economic activity expanded at a modest to moderate pace in oct through mid-Nov.

There was a 'slight improvement' in outlook among business contacts in reporting districts.

Price pressures have strengthened since last Beige Book report.

Most districts reported modest to moderate employment growth; reports of labor market tightness widespread.

Wage growth was modest to moderate in most districts.

All districts reported manufacturing activity expanded; most expect activity to continue to pick up.