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Economic Report: Fed’s Beige Book shows ‘widespread concerns’ on tariffs — but positive economic outlook

Bloomberg News/Landov
Pedestrians in Times Square

The outlook: Business contacts were generally positive through early July about the economic outlook for the coming months despite “widespread concerns about the possible negative impact of trade-related uncertainty,” according to the “Beige Book” survey released by the Federal Reserve on Wednesday.

What happened: The survey found that the economy expanded at modest pace from mid-May through early July, little changed from the spring. In line with recent, data, retail sales were up slightly while manufacturing was flat. Price pressures were muted, with the rate of price inflation described as “stable to down.” Firms remain unable to pass along higher input prices to their customers because of “brisk competition.

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