The Fed’s Beige Book review of anecdotal accounts about the economy concluded that growth from early to late May was at a “somewhat faster rate,” buoyed by “increased vaccination rates and relaxed social distancing measures."
The Fed said that “it remained difficult for many firms to hire new workers, especially low-wage hourly workers, truck drivers, and skilled tradespeople,” noting, “Looking forward, contacts anticipate facing cost increases and charging higher prices in coming months.”
