Fed Beige Book: Tariffs are putting upward pressure on costs and prices

Odaily News The Federal Reserve Beige Book said that prices have risen at a moderate pace since the last report. There were widespread reports that respondents expected costs and prices to rise at a faster rate in the future. A few regions described these expected cost increases as strong. Reports from all regions pointed out that higher tariff rates are putting upward pressure on costs and prices. However, respondents responded to these higher costs in different ways, including raising prices on affected goods, raising prices on all goods, reducing profit margins, and imposing temporary fees or surcharges. Respondents who plan to pass on tariff-related costs expect to take action within three months. (Jinshi)