Fed Survey Reveals Vibrant Economy

The Federal Reserve’s most recent survey of business conditions around the nation found continued economic strength and more widespread signs of price pressures.

“Economic expansion remained vibrant around much of the nation. The underlying momentum in consumer spending growth remained quite strong,” said the survey, which was concluded Jan. 10.

The generally upbeat report said, “The pace of price increases seemed steady to somewhat higher since reports in early December, while higher inflationary expectations were apparent in business surveys conducted in San Francisco and Chicago.”

Despite some shortages in commodities and higher raw material prices, the report said retail prices are steady. They were held in check by widespread discounts during the holiday shopping season, the Fed said.

The survey also found “signs of underlying strength even in the apparel category.”