Fed Beige Book Says US Economy Grew Modestly as Inflation Pressures Stayed Stable
Summary
- The Fed said the US economy continued to post modest growth.
- It said 11 of the 12 Federal Reserve districts recorded slight to modest growth.
- The Fed said prices showed a moderate increase overall, with the pace similar to or slightly slower than in the previous survey.
Forecast Trend Report by Period
The Federal Reserve said the US economy continued to grow at a modest pace, while inflation pressures remained broadly stable.
In its latest Beige Book released July 15, the Fed said economic activity increased slightly to modestly in 11 of the 12 Federal Reserve districts from late May through June. Activity was unchanged in the remaining district.
Prices continued to rise at a moderate pace overall. Of the 12 districts, nine reported moderate increases, two reported relatively larger increases and one reported a slight increase.
The Fed said the overall pace of price growth was little changed from the previous survey or had eased somewhat.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit