Washington D.C. - The Federal Reserve's latest "Beige Book" report paints a picture of a U.S. economy that has contracted over the past six weeks. Released Wednesday, the report highlights concerns about rising prices and a slowdown in hiring across various sectors.
According to the Fed, businesses and consumers are increasingly worried about the impact of tariffs on the cost of goods and services. This has led to increased pressure on prices, which is affecting spending habits and investment decisions.
The report also notes a decline in hiring activity in several regions. While some sectors continue to add jobs, the overall pace of hiring has slowed compared to previous months. This slowdown is attributed to a combination of factors, including economic uncertainty and difficulty finding qualified workers.
The "Beige Book" is a summary of economic conditions in each of the 12 Federal Reserve districts. It is based on anecdotal information gathered from businesses, community leaders, and other sources. The report is used by the Federal Open Market Committee (FOMC) to help make decisions about monetary policy.
Fed Report: US Economy Slows Amid Rising Prices, Hiring Dip
A new Federal Reserve report indicates the U.S. economy has slowed down in recent weeks. The "Beige Book" cites concerns about rising prices due to tariffs impacting both consumers and businesses. Hiring has also cooled off, contributing to the overall economic deceleration. This report offers a snapshot of the current economic climate as seen by the Federal Reserve.
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