joining us now with their andtion, chris in studio kate moran joins us from st. louis. one of the sticking points for fed policymakers has been stagnant wage growth. are we finally starting to see some movement? chris: absolutely. we had some indication of faster wage growth and hourly earnings -- the eci until last quarter. it's nice to see it continuing to happen as janet yellen said, faster wages are a reason to hike. lower wage growth is not a reason to wait. isrlet: that facebook backwards looking. week applicable to the ending august 24. what value does a beige book offer you when you have such massive repricing of every asset class? kate: it confirms what we've been seeing for a wild. the economy is picking up a bit of steam. it's one of the most recent indicators we have saying that growth continues through august. we've seen some of the market volatility during the time when the beige book was being written. we are seeing a situation where the fears are international, but if you look at the domestic economy, the trends are very positive. that is something that