TELETRADER News
7/13/2022, 8:11 PM
(Source: TeleTrader)
Fed's Beige Book raises concerns over recession risks
The Federal Reserve's Beige Book released on Wednesday noted that multiple districts reported signs of demand slowing down, with concerns increasing due to the possibility of a recession hitting the United States.
Many of the 12 Fed districts saw continuous supply chain disruptions and labor shortages that have negatively affected the manufacturing activity, especially the output of energy products. The outlook for future economic growth was mostly negative, the districts added.
Substantial price increases were registered across all 12 districts at all stages of consumption, with inflation remaining "historically elevated." Some districts, including New York, also saw risks related to the resurgence of the COVID-19 pandemic.