1. The US Federal Reserve's Beige Book report shows little to no change in economic activity, with consumer spending being flat or declining due to inflation outpacing wages.
2. Tariffs are starting to impact prices, and businesses across seven districts are hesitant to hire workers due to uncertainty and weaker demand. Some districts have reported an increase in layoffs.
3. Fed Chair Jerome Powell has expressed concern over risks to the labor market and hinted at potential interest rate cuts. The Federal Reserve is preparing for its next policy meeting in two weeks.
2. Tariffs are starting to impact prices, and businesses across seven districts are hesitant to hire workers due to uncertainty and weaker demand. Some districts have reported an increase in layoffs.
3. Fed Chair Jerome Powell has expressed concern over risks to the labor market and hinted at potential interest rate cuts. The Federal Reserve is preparing for its next policy meeting in two weeks.
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Summary
US economic activity remains stagnant, with consumer spending flat or declining due to inflation exceeding wages. Tariffs are influencing price increases and businesses in seven districts are hesitant to hire due to uncertainty and weaker demand, some reporting increased layoffs. Fed Chair Jerome