Beige book showed modest growth but not very fast.Right now is unusual. Risks to employment is to the downside and inflation is to the upside.Over the summer labor market has softened. Focus on inflation needs to moderate to a more balanced approachWe will look at labor market, growth data, inflation data and ask if policy is in the right place.If policy is not in the right place, we will move it thereAggregate households are in good shape.It is not a time of elevated financial stability risks.Cannot say that labor market is really solid anymoreNASDAQ index moves to new session lows. We are not targeting prices for financial assets. Equity prices are fairly highly valuedThe hiring rate has really dropped This article was written by Greg Michalowski at investinglive.com.