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MNI BRIEF: Sign Of Economy Slowing In Fed's Beige Book

(MNI) Washington

The U.S. economy is slowing and there is a growing risk of recession as consumers experience ongoing and large price rises, according to business contacts in the Federal Reserve's latest Beige Book report released Wednesday.

"Several districts reported growing signs of a slowdown in demand, and contacts in five districts noted concerns over an increased risk of a recession," the report said. "Substantial price increases were reported across all Districts, at all stages of consumption. Most contacts expect pricing pressures to persist at least through the end of the year."

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The U.S. economy is slowing and there is a growing risk of recession as consumers experience ongoing and large price rises, according to business contacts in the Federal Reserve's latest Beige Book report released Wednesday.

"Several districts reported growing signs of a slowdown in demand, and contacts in five districts noted concerns over an increased risk of a recession," the report said. "Substantial price increases were reported across all Districts, at all stages of consumption. Most contacts expect pricing pressures to persist at least through the end of the year."

Keep reading...Show less