Overall economic activity in the United States was further strengthened from the end of May to early July, according to the Federal Reserve's beige book survey released on Wednesday. Prices are rising at an above-average rate, with strong price growth reported in seven regions and a slight increase in the rest.
According to the report, 3/4 of the regions reported slight or moderate employment growth, while the rest reported moderate or strong employment growth. The average wage growth rate was moderate, and low-wage workers received higher-than-average wage increases.