The FED has shared with the public its regularly published Beige Book document, which covers economic developments in federal districts in the United States.
Here’s what you need to know from the Beige Book document:
- Economic activity in the United States’ 12 Federal Reserve districts grew slightly to moderately in late November and December.
- Although respondents in some regions expressed concerns that changes in immigration and tariff policies could have a negative impact on the economy, more respondents were optimistic about the economic outlook for 2025 than pessimistic.
- While officials in some regions have expressed concern that changes to immigration and tariff policies could negatively impact the economy, optimism about the 2025 outlook outnumbers pessimism.
- This report was prepared on or before January 6, 2025, before the wildfires in the Los Angeles area began.
- Prices increased modestly overall, and growth rates were flat to moderate.
- Employment increased on a balanced basis, with six regions seeing no change.
*This is not investment advice.