The Beige Book is published two weeks before each meeting of the Federal Open Market Committee that sets policies.
US firms indicated persistent price pressures, though some were abating. Several districts noted continued wage growth as well.
Supply-chain issues eased in many districts, which reported relief in some transportation costs. Firms said labor availability was slightly improving, but finding workers with the right skills or experience was a challenge.
A few districts witnessed ‘moderate to strong’ retail sales growth. US consumers remained robust at the start of the year, bolstered by the ample availability of jobs, retail sales and inflation data showed.
ALCHEMPro News Desk (DS)
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