Fed Report: US Economic Activity Edges Up, Prices Rise Moderately

The Federal Reserve has released its latest Beige Book report, which provides qualitative economic data from all 12 of its regional banks. According to the report, U.S. economic activity increased modestly in recent weeks, with employment rising slightly and prices increasing moderately.

However, sentiment was mixed across sectors, with contacts reporting heightened uncertainty surrounding the effects of higher energy prices, policy, and international conflict. The pace of price increases slowed in three of the 12 Fed districts, increased in one, and remained unchanged in eight.

The report also noted that consumer-facing contacts in a few districts reported that heightened price sensitivity among customers was putting a limit on their ability to pass through input price increases.