Beige Book Paints a Mixed Picture: Business Investment Buoys Growth as Consumers Feel the Pinch
The Federal Reserve's latest Beige Book finds the economy propped up by business investment but under strain from higher prices, softer consumer spending and modest job growth. Energy-driven inflationary pressures tied to the Middle East conflict have rippled into shipping, groceries and fertilizer, with anecdotal evidence of household belt-tighten…