BULLET: FED BEIGE BOOK: US economic activity continued to 10.>

FED BEIGE BOOK: US economic activity continued to expand, with 10 

districts reporting "moderate or modest growth." Bookending these 

districts was Dallas, which saw strong growth due to energy, and St. 

Louis where growth was "slight."

- Manufacturers in every district reported concerns about tariffs and 

many saw higher prices and supply disruptions attributed to trade policy.

- Pricing pressure are expected to increase in some districts, 

while others expect stable price gains at a "modest to moderate pace." 

Price gains were seen in all districts, with a pace that was "modest to 

modest" on avg. Price gains for key inputs, however, were "elevated 

or strong" by a few districts, with metal and lumber tariffs contributing. 

Pass-throughs to consumer prices remain "slight to moderate." 

- All districts reported labor market tightness and said difficulty 

finding workers was holding back growth. Half the districts noted a 

shortage of truck drivers had reduced trucking capacity. Wages increases 

were seen as "modest to moderate, with a couple of districts noting that 

wage growth had accelerated.

- Consumer spending was up in all the districts, especially Dallas and 

Richmond. Several districts reported slower existing home sales growth, 

though not much concern about the impact of rising interest rates.