Beige Book Reveals Wage Pressures, Improving Economy

(RTTNews) - In another sign that the jobs market is improving, the Federal Reserve's Beige Book has reported increased wage pressures in a number of districts around the U.S.

"Several" of the 12 district banks "reported increasing wage pressures caused by labor market tightening," according to the Beige Book, a collection of anecdotal information on economic conditions.

It's the first time in years that respondents reported wage pressures.

Taken with today's relatively strong ADP jobs report, the Fed may be compelled to raise interest rates later this month. An upbeat August jobs report may seal the deal on Friday, but policy makers will also be mindful of falling stocks and headwinds from China.