As Bill Bergman at Morningstar reports:
In the Fed's overall "beige book" review of economic conditions, price pressures were reported as "elevated or increasing" by all 12 of the Federal Reserve's district banks in the latest survey. This may be one of the bleaker inflation assessments in the beige book in recent years.And meanwhile,
The only "official" report directly relating to U.S. labor markets released last week was the weekly unemployment insurance claims report, released Thursday. Initial claims were up significantly, to 400,000. The four-week moving average has climbed steadily higher in the past year, and at an accelerating pace lately.