Specifically, the report presented on Wednesday highlighted that the economic activity of the United States continued to expand at a "modest pace" in recent weeks, although it has warned that there were hardly any changes compared to the previous period.
The majority of the districts (one for each of the twelve banks), reported that retail sales increased "slightly", while vehicle sales remained unchanged. A few districts warned of a decline in activity in the transport sector, as well as that manufacturing production remained stable.
On the other hand, the Fed has reported that the market maintained its state of tension, with lack of labor and difficulties to fill vacancies. However, the issuing institute has warned that although employment grew "modestly", it did so at a lower rate than in the previous period.
With regard to the variation in prices, the monetary authority has indicated that inflation remained stable or fell slightly compared to the data presented in the previous Beige Book. While companies absorbed the increase in input costs and tariffs for competition, the prices of some professional services fell.
At the last monetary policy meeting of the Fed, some members began to defend the idea that there should be a rate cut, although they finally decided to keep waiting to see if the risks to the economy continued to materialize.
This Tuesday, the president of the Fed, Jerome Powell, said that they had "increased" a series of risks for the US economy in recent weeks, such as the slowdown in global growth or trade tensions, adding to unresolved challenges, such as the high level of public debt of the United States or the departure of the United Kingdom from the European Union.
"We are carefully monitoring these developments and assessing their implications for the economic and inflation forecasts of the United States, and we will act appropriately to sustain the expansion," Powell stressed on Tuesday.
. (tagsToTranslate) Book (t) Beige (t) Fed (t) reinforces (t) drop