Federal Reserve's Beige Book Highlights Rising Prices and Tariff Impacts

According to Odaily, the Federal Reserve's Beige Book indicates that prices have been rising at a moderate pace since the last report. Many respondents expect costs and prices to increase more rapidly in the future, with a few regions describing these anticipated cost hikes as strong. Reports from all districts highlight that higher tariff rates are exerting upward pressure on costs and prices. However, respondents are employing various strategies to manage these increased costs, such as raising prices on affected goods, increasing prices across all products, reducing profit margins, and implementing temporary fees or surcharges. Those planning to pass on tariff-related costs expect to do so within three months.