Beige Book
Coverage of Beige Book in the Nexus archive.
- Cleveland Fed: Business activity up, but high fuel costs are increasing prices, hurting consumers
The Federal Reserve Bank of Cleveland reported moderate business activity growth over the past 1.5 months, driven by data center construction and manufacturing demand. However, high fuel and petroleum product prices are increasing costs for businesses and reducing consumer spending, particularly affecting low-income households. The report also noted rising electricity, insurance, software, and food costs, with geopolitical tensions and low global oil reserves complicating prospects for price declines.
- Beige Book shows robust US economy, labour market picking up
The Beige Book indicates a robust US economy with a strengthening labor market. Prices are rising 'moderately,' and there is a mention of potential renewed hostilities with Iran.
- Markets fall, as good jobs data indicate no interest rate cuts
U.S. stocks declined as strong jobs data reduced expectations of interest rate cuts, with the Nasdaq, Dow Jones, and S&P 500 all posting weekly losses. The May employment report showed 172,000 jobs added, surpassing forecasts, while inflation concerns and economic indicators like the ISM reports and Beige Book highlighted ongoing challenges.
- There are early signs of renewed labor market strength during Iran war
The Iran war has caused a 33% oil price shock, but the U.S. labor market shows renewed strength with minimal employment risks compared to past energy crises. Federal Reserve Bank of Boston research indicates this shock would raise inflation significantly but have negligible effects on national employment, shifting central bank focus from stagflation to inflation risks.
- Fed’s Beige Book highlights weak consumer and reliance on AI build-out
The Fed’s Beige Book highlights weak consumer activity and reliance on AI build-out. Middle-income households are under increasing pressure as inflation rises.
- Fed Beige Book Shows Steady Employment, Higher Inflation
The Fed's Beige Book reported higher inflation across most districts, driven by the war in the Middle East impacting energy prices, alongside steady employment. The findings are based on the central bank's survey of regional business contacts.
- Fed Beige Book Says Iran War Driving New Wave of Uncertainty
The Federal Reserve's Beige Book reports that the Iran war is creating significant economic uncertainty. This geopolitical conflict is described as a new wave of instability affecting global markets.