According to him beige book from the Federal Reserve, overall economic activity has been little changed in recent weeks. The report includes information collected up to April 10 and is the first since the banking crisis. “Loan volumes and loan demand declined across all types of consumer and business lending” and “several districts noted that banks tightened lending standards amid heightened uncertainty and concerns about the liquidity”.
The US dollar remained in positive territory during the day after the release of the Beige Book and US stocks continued to wobble. The DXY rose 0.20%, slightly below 102.00.
Key notes:
“Overall economic activity has been little changed in recent weeks. Nine districts reported little or no change in activity over this period, while three indicated moderate growth. Expectations for future growth were largely unchanged However, in two districts the outlook deteriorated.”
“Overall, consumer spending was flat to slightly down, amid continued subdued price growth. Auto sales were broadly flat, with only a couple of districts reporting improvement of sales and stock levels.
“Manufacturing activity was reported broadly flat or down, even as supply chains continued to improve.”
“Loan volume and demand declined overall across all types of consumer and business loans. Several districts noted that Banks tightened lending rules amid heightened uncertainty and liquidity concerns.”
“Job growth moderated somewhat this period as several Districts reported a slower pace of growth than in recent Beige Book reports.”
“The salaries They have shown some restraint, but they remain lofty.”
“General price levels rose moderately during the reporting period, although the rate of price increases appeared to be slowing.”
“Producer prices for finished goods rose modestly this period, albeit at a slightly slower pace.”
“Consumer prices generally increased due to still-elevated demand, as well as higher inventory and labor costs. Housing and rental prices stabilized in most districts, but remained close to all-time highs.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
