Beige Book Flagging a Soft Jobs Number Tomorrow

Yesterday’s Beige Book was the weakest since the winter of 2020

Highlights

• Yesterday’s Beige Book was the weakest since the winter of 2020

• 2s/10s yield curve un-inversion is a recession signal

• Dollar Tree is the latest retailer to signal a struggling consumer

• July’s PCE inflation data flag fading price pressures