Fed’s Beige Book Shows Slight Growth and Mounting Tariff Worries

Economic activity rose “slightly” since mid-January but businesses across the country reported uncertainty surrounding new policies from the Trump administration, particularly on tariffs, the Federal Reserve said in its Beige Book survey of regional business contacts.

Prices climbed “moderately” in most areas, with several regions reporting faster price increases compared to the previous period. Looking ahead, firms across the country “expected potential tariffs on inputs would lead them to raise prices, with isolated reports of firms raising prices preemptively.”