6/3/2021 7:09:04 AM GMT Markets “Looking forward, contacts anticipate facing cost increases and charging higher prices in coming months”. The Fed’s latest Beige Book delivered the expected/feared for anecdotical evidence that the current increase in prices could at least partly become structural. The preparatory document for the upcoming June 16 FOMC meeting also noted that the national economy expanded at a moderate pace from early April to late May, which was a slight acceleration compared to the previous period. The document is also filled with stories from companies willing to hire, but failing to attract personnel. Developments prompted Philly Fed Harker (see below) to join the chorus of FOMC voices speaking out in favor of starting the QE tapering debate in the coming week (ie June FOMC meeting). While it obviously takes some time and thought to start winding down asset purchases running at a monthly $120bn pace and piling on to a $8tn balance sheet, it’s more straightforward to take action on the much smaller