Fed’s Beige Book Shows Weaker Consumer Weighing on Sales

US economic activity increased at a slight to moderate pace across most regions in recent weeks, though a growing number reported flat or declining activity, the Federal Reserve said. In its Beige Book survey of regional business contacts, released Wednesday, the US central bank reported that in many districts “sales were dampened by economic uncertainty, increased price sensitivity and lower-income consumers pulling back on spending.” The report noted that employment levels were generally stable, even as firms looked to artificial intelligence to bolster efficiency. Bloomberg News Economics Editor Molly Smith ...