The Federal Reserve’s latest report, released on Wednesday, indicates that economic activity across the United States has seen only minor shifts in recent weeks. Drawing on data collected by regional branches up to August 25, the so-called Beige Book offers a real-time snapshot of economic conditions ahead of the Federal Open Market Committee’s meeting on September 16 and 17. n nMost districts reported stable or slightly reduced consumer spending, as household incomes struggled to keep pace with rising living costs. In several areas, families have had to adjust their budgets due to persistent inflationary pressures. n nPrice increases continued across regions, with ten districts describing inflation as “moderate or contained,” while two noted sharper rises in production input costs, largely attributed to ongoing tariff impacts. These cost pressures have affected both manufacturers and service providers, though the pace of price growth has not accelerated significantly. n nLabor market conditions remained largely steady, with 11 out of 12 districts observing little change in employment levels. Only one region reported a slight decline in hiring, suggesting that while job growth has plateaued, widespread layoffs have not emerged. This stability supports the Fed’s cautious stance as it weighs inflation risks against signs of softening labor demand. n nThe report plays a key role in shaping monetary policy decisions, offering qualitative insights that complement national economic data. With inflation still above target but labor markets showing resilience, policymakers face the challenge of balancing price stability with economic growth. n
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The Federal Reserve: U.S. economic activity has seen only limited changes
According to this report, released on Wednesday, information provided by business owners and institutions in 12 regions covered by the bank’s regional branches is used, and it is published eight times a year, about two weeks before monetary policy meetings, to provide an accurate field picture of the economy. n nAccording to the report, based on data collected by the Federal Reserve branch in Philadelphia until August 25, most regions recorded stability or a decline in consumer spending levels, as many households’ incomes were unable to keep up with the increase in the cost of living. n nThe Fed pointed out that prices continued to rise in various regions, with ten regions indicating that inflation was at “moderate or limited” levels, while two regions reported larger increases in production input costs due to tariff impacts. n nRegarding the labor market, the report indicated that 11 regions did not record any significant changes in the number of workers, while only one region indicated a slight decline in employment levels. n nThis report is issued ahead of the Federal Open Market Committee meeting on September 16 and 17, as central bank officials consider how to balance price pressures arising from tariffs with indicators reflecting weakness in the labor market.