Activity rose in nine of 12 Fed districts in the October Beige Book, but most reported little or no change in consumer spending. More than half said high-income households supplied much of it, and a PYMNTS survey showed confidence falling for a second month.
Perspective Coverage
3 publishers
- Builder
- Builder 13%
- Operator
- Operator 37%
- Investor
- Investor 50%
Reality
- Evidence62
- Adoption
- Not scored
- Hype gap+5
- Incentives
- Not scored
- Confidence65
Chicago Fed President Austan Goolsbee said AI-linked price increases are spreading beyond data centers while August inflation was 3.4%. September's figures, due this week, test his fear against Governor Lisa Cook's view that the boom is a sector-specific shift.
Perspective Coverage
3 publishers
- Builder
- Builder 15%
- Operator
- Operator 28%
- Investor
- Investor 57%
Reality
- Evidence42
- Adoption
- Not scored
- Hype gap+25
- Incentives
- Not scored
- Confidence58
ADP counted 90,000 new private-sector jobs in September, ending a three-month slowdown. Health care and the skilled trades carried the month, and the trades are hiring into a labor shortage that Fed and ADP economists explain differently.
Reality
- Evidence68
- Adoption
- Not scored
- Hype gap+20
- Incentives40
- Confidence64
Nine of twelve reserve banks let bank-appointed directors help pick the community seats
The Federal Reserve's inspector general traced twelve improvised director-selection processes to the absence of written guidance from Washington. The Board has agreed to produce some by the middle of next year, roughly six years after the conduct under review began.
Reality
- Evidence70
- Adoption22
- Hype gap+8
- Incentives58
- Confidence62
A Fed president says data centers are shoving the rest of the economy down
Austan Goolsbee told Fortune the AI buildout is bidding construction workers and HVAC away from other firms, and that a sector rebalance is "not far" from becoming aggregate overheating, which is the Fed's business.
Reality
- Evidence55
- Adoption62
- Hype gap+10
- Incentives65
- Confidence60