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Fed Beige Book, March 1, 2017

Fed Beige Book, March 1, 2017

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can ho chung cu saigon miaBusiness are expecting prices to rise modestly in the coming months, according to the Federal Reserve’s latest Beige Book released on Wednesday.

The Fed’s preferred measure of inflation — personal consumption expenditures

— rose 1.7% in January, Commerce Department data released earlier on Wednesday showed. The Fed has a 2% target. 

The Beige Book repeated that the economy continues to expand at a moderate pace, amid promises from the new administration to return the economy to 3% growth. 

It has been a busy week for Fed news. William Dudley of the New York Fed and Dallas Fed President Kevin Kaplan earlier spoke with a hawkish tone on interest Can ho Saigon Mia Trung Son rates, prompting the forward market to review its forecast for the number of times the Fed would hike this year.

On Wednesday, traders priced in an 80% chance of a rate hike at the Fed’s March meeting, up from 50% at the start of the week. However, the sluggish rate of inflation amid slow wage growth has prompted the Fed to be patient

up till now.