Fed Beige Book Shows US Companies Expect ‘Low Growth’ Economy
Fed Beige Book Shows US Companies Expect ‘Low Growth’ EconomyWASHINGTON (AA) – The US Federal Reserve (Fed) said that US companies expect “low growth” in the economy in the coming months.The Fed has published the January issue of the Beige Book report, which includes assessments of the current situation in the US economy. has not changed since November. The report notes that “low growth” is expected in the economy in the coming months. Consumer spending rose slightly, with some retailers reporting increased sales over the holiday season. “Other retailers note that high inflation continues to reduce consumer purchasing power, especially among low- and middle-income households,” the report says. The report, which says manufacturers are reporting a moderate decline in activity in many regions, highlights that supply chain disruptions have decreased. The report also indicated that high borrowing costs had begun to put pressure on commercial loans. The report notes that employment continues to grow at a moderate to moderate pace in most regions. Wage pressure remains high due to the persistently tight labor market. The report also mentions price increases, which are expected to be modest.
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