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

Odaily Planet Daily News: The Federal Reserve Beige Book stated that prices have risen at a moderate pace since the last report. There are widespread reports that respondents expect costs and prices to rise at a faster rate in the future. A few regions called these expected cost increases 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, shrinking profit margins, and charging temporary fees or surcharges. Respondents who plan to pass on tariff-related costs expect to take action within three months. (Jinshi)