Fed’s Beige Book indicates that most Federal Reserve Districts experienced “slight or modest” economic growth, while two Districts saw no change in activity. The overall economic outlook has become more “pessimistic” due to increased uncertainty and greater downside risks.
Employment across the country grew at a slight pace, with eight Districts reporting “minimal to modest” job gains and the remaining four seeing no changes. Wage growth was generally moderate, with some Districts noting that wage increases have returned to pre-pandemic levels or are moving towards those rates.
Prices rose modestly over the reporting period, and this trend is expected to continue in the near future.
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