Summary
- According to the Fed Beige Book, recent U.S. economic activity showed modest growth.
- It was revealed that most of the 12 regional districts assessed the economic outlook as slightly pessimistic from neutral.
- The report suggests that the Fed is likely to maintain a cautious monetary policy stance for the time being.
According to the Beige Book released by the Federal Reserve System (Fed) on the 16th (local time), overall U.S. economic activity showed slight growth from the end of May to early July.
The Fed reported that among its 12 regional districts, only 2 expressed optimism about future economic growth, while most regions expected the current level to be maintained or to contract slightly. As a result, the overall economic outlook was assessed as 'slightly pessimistic from neutral.'
The Beige Book serves as a regional economic report referenced in the Fed’s interest rate decisions and reflects the business sentiment of local companies and economic agents. This report is interpreted as indicating that the Fed is likely to maintain a cautious monetary policy stance for the time being.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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