The Fed Beige Book report showed slowing consumer spending (surprise) and “increasing” price pressures. The report stated that most districts are showing weak or nonexistant growth and that manufacturing was declining in most markets. Real estate has been noted to be declining or weak across all markets.

Something that I found interesting to note was that businesses are reporting that they are finding it difficult to pass on cost to consumers when demand is already sluggish.  They don’t want to take the risk of making their problems worse.  Translation: All those months of wonderous profit from the past few years are about to start leveling!