The Federal Reserve shared in its latest Beige Book on Wednesday that the economic activity in the United States was "little changed." It was detailed that only five districts saw "slight growth," while three districts said that the activity was "relatively unchanged," and the remaining four districts reported "slight to modest declines." "The outlook in several Districts worsened considerably as economic uncertainty, particularly surrounding tariffs, rose," the Fed commented.
When it comes to employment, it was "little changed to up slightly" in most districts. One district saw "a modest increase" in employment, four registered a "slight increase," another four reported no change, and three recorded a "slight decline."
Meanwhile, prices rose across districts, as six stated that the price growth was "modest," while another six mentioned that it was "moderate." "Most Districts noted that firms expected elevated input cost growth resulting from tariffs. Many firms have already received notices from suppliers that costs would be increasing," the Fed explained.
