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

Odaily Planet News: The Federal Reserve's Beige Book indicates that prices have been rising at a moderate pace since the last report. Generally, respondents expect future costs and prices to increase at a faster rate. A few regions described these anticipated cost increases as robust. Reports from all regions noted that higher tariff rates are exerting upward pressure on costs and prices. However, respondents have varied approaches to addressing these higher costs, including raising prices for affected goods, increasing prices across all goods, reducing profit margins, and charging temporary fees or surcharges. Respondents planning to pass on tariff-related costs expect to take action within three months. (Jinshi)