Almost all parts of the country show the labor market is cooling, according to a Fed Beige Book survey released Wednesday。The Brown Book is a survey that collects oral stories from business contacts up to January 8.。These liaisons cited a larger number of job seekers, lower turnover rates, more selective recruitment by firms, and a reduction in wage pressures.。In particular, the cooling of wages helps to keep inflation down.。Federal Reserve officials will meet at the end of this month to set interest rate policy。They use the Beige Book to understand what's going on on the ground。

Business contacts optimistic about future growth。Survey finds that expectations are positive, have improved, or both。There are also many reports that consumers "" price sensitivity "is forcing retailers to shrink their profit margins and put pressure on their suppliers to keep prices stable.。

In afternoon trading, U.S. stocks, the Dow Jones and the S & P 500, fell while U.S. 10-year Treasury yields rose to 4.11%。