Fed Survey Shows Economic Activity Edged up, Prices Up
- On Wednesday, the Federal Reserve's latest "Beige Book" report indicated modest U.S. economic activity, slight employment gains, and moderate price increases gathered from all 12 regional banks.
- Sentiment remains mixed across sectors, the Fed said, as contacts reported heightened uncertainty surrounding elevated energy prices, policy shifts, and international conflict in recent weeks.
- Price increases slowed in three districts, increased in one, and remained unchanged in eight; consumer contacts noted that price sensitivity limited their ability to pass through input costs.
- Financial markets price a 65% chance of a rate hike this month ahead of the September 15-16 meeting, while Fed Chairman Kevin Warsh signaled his "predominant focus" remains on inflation.
- Five of the central bank's 19 policymakers say a rate hike is past due; New York Fed President John Williams told CNBC on Wednesday, "My view is that we just have to keep watching" the data.
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In the industry, which grew in almost all districts, the orders linked to the Defense and data centers were highlighted, this publication points out, which comes out eight times a year.
It has been assessed that the U.S. economy has continued its moderate growth since early July, and prices have risen to a moderate level. While demand from data centers and defense-related sectors supported manufacturing activity, uncertainty surrounding high energy prices and the potential war with Iran has intensified. In its "Beige Book" economic report released on the 2nd (local time), the U.S. Federal Reserve (Fed) stated, "Among the 12 Fed…
(New York = Yonhap News) Correspondent Lim Soo-jung = U.S. economic activity has expanded moderately since early July and prices have risen to a generally moderate level, the U.S. central bank...
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