Fed's Beige Book Report: Economic Activity Edges Up, Prices Rise Moderately

The Federal Reserve released its latest 'Beige Book' report on Wednesday, which showed economic activity increased modestly in recent weeks. The report also indicated that employment rose slightly and prices increased moderately.

According to the Fed, the general outlook for the coming months was positive, but sentiment was mixed across sectors. Contacts reported heightened uncertainty surrounding 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. Consumer-facing contacts noted that price sensitivity among customers limited their ability to pass through input price increases.