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Which the fed describes as tight. Difficulty hiring should translate into wage and inflation pressures in the months ahead, but for now, only slight growth and price pressures. Moderately. Was up better than modestly in the 11 of 12 fed districts. Confidence to the borrow more. The beige book can be a bit of a sleeper, but two weeks away from the june fed decision, it takes on greater importance. Strong casemake a for a rate hike but does not take the fed off course, either. David i wanted to ask you what commentary there is on signs of inflation in the beige book today. Erik not much. That is the slight growth and price pressures. On the push aside, yet the tightening labor Market Conditions you have the tightening labor Market Conditions. Anecdotally, the fed does not report a lot of price pressure now, describing it as only slightly growing. David i want to turn to julie hyman. Julie not much more than a mess, no. Not seeing much difference from before. Stocks have been trading in a

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