Wu Says learned that the latest Federal Reserve Beige Book shows that from late May to June, in 11 of the 12 Federal Reserve districts in the US, economic activity grew slightly to moderately, while 1 district was basically unchanged; the overall pace was roughly similar to the previous period. Consumer spending increased slightly, but rising fuel prices restrained consumption in other categories, and some consumers shifted to lower-priced goods. Financial conditions were generally stable: both business and consumer loan volumes grew slightly, but the quality of consumer loans declined a bit. The labor market overall improved: employment rose moderately to solidly in 5 districts, was basically unchanged in 7 districts, and businesses still faced shortages of technical roles and skilled workers. Wage growth was overall moderate, and prices rose moderately overall. Nine districts reported moderate price growth, and cost pressures mainly came from energy, transportation, raw materials, and tariffs. Most businesses expected the economy to continue expanding in the future, but there remained high uncertainty regarding factors such as the outlook for fuel costs.

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GamingGear

· 2h ago

The price rise across the nine districts can be attributed pretty comprehensively to factors like everything except wages—because in reality, purchasing power is quietly shrinking.

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DevBTC

· 7h ago

Skill shortages + moderate wage growth: the labor market is tighter than the surface numbers suggest, and the estimate that the Fed will cut rates this year looks uncertain

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MemeSourdough

· 8h ago

With both energy costs and tariffs under pressure, companies still insist that they can continue expanding—their stubbornness is comparable to the “long-term outlook is positive” sentiment that’s said at the end of a crypto bull market.

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VaultKeeper

· 8h ago

Zone 11 grew while Zone 1 was flat; consumers shifted to lower-priced goods—this is a typical sign of stagflation. On-chain stablecoin liquidity has also been tightening recently.

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MultiSigRed

· 8h ago

The data in this beige book looks relatively mild, but fuel costs are definitely a problem. As the summer driving season approaches, inflation expectations are going to get stirred up again.

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Federal Reserve Beige Book: The U.S. economy expanded modestly; employment improved, but price pressure remains

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