December 7, 2022

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Beige Book: US economy still shows moderate growth

Beige Book: US economy still shows moderate growth


Photo: ANP

The US economy continued to show “modest” activity growth through early October. But the picture is not the same everywhere. There was a clear slowdown in growth in some parts of the United States, the Federal Reserve reports in its so-called Beige Book.

Under the umbrella of central banks, the outlook for the economy has turned bleak amid growing concerns about slowing demand. In addition, prices of many commodities continued to rise sharply, although inflation moderated somewhat in some regions.

Many economists have long assumed that the United States will enter a recession in the not-too-distant future. A new study on the state of the U.S. economy is based on surveys of regional central banks. Data were collected in part of September and October.

Investors always keep a close eye on the Page Book as it may give them a clearer picture of the future of interest rate policy. The central bank has already raised interest rates four times this year to combat high inflation.

In the last three interest rate decisions, interest rates were hiked even by significant steps of 0.75 percentage points. Earlier this month, the US labor market appeared to be still strong, giving the Fed more room to raise interest rates sharply in the coming period.

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