Fed Beige Book Sees Slight Growth, Moderating Wage Pressure
- US economy has ‘expanded slightly’ since late February
- Firms reported difficulty passing on higher input costs
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The US economy has “expanded slightly” since late February and firms reported greater difficulty in passing on higher costs, the Federal Reserve said in its Beige Book survey of regional business contacts.
“Consumer spending barely increased overall, but reports were quite mixed across Districts and spending categories,” according to the report released Wednesday. “Several reports mentioned weakness in discretionary spending, as consumers’ price sensitivity remained elevated.”