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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 29 4:00 PM EST

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To: American Spirit who wrote (54116)	6/14/2000 7:34:00 PM
From: UnBelievable	Read Replies (3) of 99985

Fed Survey Sees Economy Cooling and Increased Price Inflation REUTERS June 14 The booming U.S. economy showed signs of cooling during April and May but there also were indications in many regions of increased price inflation, the Federal Reserve said on Wednesday. THE CENTRAL BANK'S latest Beige Book summary of coast-to-coast conditions reported "solid economic growth" but with glimmers of slowing in areas like borrowing and homebuilding. "All but Minneapolis said scattered signs of cooling are in evidence or the pace of growth is slowing," the Fed said. "Indications of worsening price inflation, while not widespread, are reported by several Districts," it added. The Beige Book findings will be used by members of the Fed's policymaking Federal Open Market Committee when they meet June 27-28 to consider interest-rate strategy. Amid growing evidence that the U.S. economy may be losing a step in its 10th year of breakneck expansion, many analysts expect the Fed to keep rates steady for now while it assesses the impact of six interest-rate rises over the past year. The Beige Book noted that some of the past pressure points on the economy like the acute scarcity of people left to hire seemed to be stabilizing, if not actually easing. "Labor markets are tight across all 12 Districts, but the tightness does not appear to have intensified since the last report," the Fed said, referring to the May 3 Beige Book that had warned of growing wage pressures because of the competition to hire people. The latest report said wages for permanent employees "are not said to be accelerating," though it still took sizable raises to attract temporary and seasonal workers.

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