The Federal Reserve has released its Beige Book, which details economic conditions across the 12 Fed districts. These include major cities like New York, Boston, and Chicago.
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All 12 districts reported increased levels of economic uncertainty amid the Trump administration’s volatile policies. Furthermore, economic activity has fallen slightly lower since the last Beige Book release, with six districts reporting slight to moderate declines, three districts reporting slight growth, and the remaining three districts reporting no change.
Prices Rise Higher at Moderate Pace
The Fed added that prices have increased moderately with Beige Book contacts expecting costs and prices to rise at a higher rate in the coming months. Some districts expect the cost hikes to be “strong, significant, or substantial.” All districts said that tariffs would influence higher costs and prices.
Higher prices could soon materialize, as contacts of the Beige Book who said that they would pass on higher prices from tariffs to customers would do so within the next three months. That could result in a jump in inflation, a major negative factor for the stock market.
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