More and more of the Fed's business contacts are talking about wage pressure

Bank of America Merrill Lynch came up with an interesting anecdotal measure of possible wage pressures in the near future: They counted up the number of references to increasing wage pressures in the Federal Reserve's Beige Book, a summary of regional economic conditions in each of the twelve Fed districts published eight times per year. It appears that references to increasing wage pressure might be becoming more frequent in the Fed's informal, anecdotal analyses, with seven such references in ...