On April 24th, the Beige Book report released by the Federal Reserve on Wednesday showed that due to Trump’s repeated imposition of tariffs on US trading partners in recent times, uncertainty about the economic outlook has intensified in various jurisdictions of the Federal Reserve. The report points out that “overall economic activity has not changed much since the previous report, but uncertainty regarding international trade policies is widespread in reports from various regions.” In this issue of the Beige Book, the term “tariff” appears 107 times, more than twice as many as in the previous report; Expressions related to ‘uncertainty’ appeared 89 times. The report states that with increasing economic uncertainty, particularly concerns over tariffs, the economic outlook in multiple regions has “significantly deteriorated”. The report shows that prices are generally rising in various regions, and companies expect tariffs to push up input costs. Many companies have stated that they have received price increase notices from suppliers, and most of them plan to pass on higher costs to consumers.
Scan code to share