U.S. Federal Reserve's "Beige Book" reports modest U.S. economic expansion since late February, with cautiously optimistic outlook and reduced profit margins.
The U.S. Federal Reserve's recent "Beige Book" report indicates a modest expansion in the U.S. economy since late February, with 10 out of 12 districts experiencing either slight or modest growth. The economic outlook among contacts was cautiously optimistic, with modest inflation continuing over recent months. However, businesses' ability to pass on cost increases has weakened, resulting in reduced profit margins. The labor market has also eased, which has helped curb wage growth and bring it back to its historical average.
April 17, 2024
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