The Federal Reserve’s Beige Book, released on September 2, said U.S. economic activity grew at a slight to modest pace from early July to late August. The report drew on surveys from the 12 regional Federal Reserve Banks and pointed to rising uncertainty tied to higher energy prices, policy changes, and international conflicts.
Ten of the 12 Fed districts reported slight to modest economic growth, while two districts reported no change. Consumer spending rose modestly, but shoppers stayed price-sensitive. Auto sales were sluggish. Weak consumer confidence, high fuel costs, and elevated financing expenses held them back. The agricultural sector posted marginal improvement, but overall it was still weak.
The report said uncertainty remains elevated, pushed by energy price increases, policy shifts, and global conflicts. (Source: Xinhua)
Fed's Beige Book: U.S. Economic Growth Mild but Uncertainty Deepens
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News EditorThe Federal Reserve's Beige Book, released on September 2, indicated that U.S. economic activity expanded at a slight to modest pace from early July to late August. However, rising energy prices, policy changes, and international conflicts are fueling greater uncertainty. Ten of the 12 Fed districts reported growth, while two were flat. Consumer spending rose modestly, with shoppers remaining price-sensitive. Auto sales were sluggish due to weak consumer confidence, high fuel costs, and elevated financing costs. The agricultural sector saw marginal improvement but remained weak. The report says uncertainty remains elevated, driven by energy price increases, policy shifts, and global conflicts.
Federal ReserveBeige BookUS EconomyUncertaintyEnergy PricesPolicy ChangesInternational ConflictsEconomic Report
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