U.S. Fed Beige Book "Most regions' economic activity stagnant…consumer spending slows"

On the 3rd (local time), according to the Beige Book released by the U.S. Federal Reserve (Fed), economic activity in most of the Fed's 12 districts showed little change and remained stagnant since the previous report.

The report pointed out that wages for many households have not kept up with inflation, causing consumer spending to stagnate or decline.

Also, prices rose slightly in most regions, and tariffs and business costs were cited as major upward factors.

Employment was assessed to have remained broadly stable.