The Federal Reserve Beige Book: Business prospects for the next six months show little change in expected growth
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Under the pressure of price affordability, consumer spending varies across regions, and the divide among different income groups is becoming increasingly pronounced. High-income households remain resilient and are less sensitive to price increases; middle-income households are described as "trying to squeeze more value out of every dollar before making purchasing decisions"; while low-income consumers face greater financial stress. Expand Related articles: Federal Reserve Beige Book: Out of the twelve Federal Reserve Districts, ten reported economic activity growing at a slight to moderate pace, one district reported a slight decline, and another reported no change. Under the pressure of price affordability, consumer spending varies across regions, and the divide among different income groups is becoming increasingly pronounced. High-income households remain resilient and are less sensitive to price increases; middle-income households are described as "trying to squeeze more value out of every dollar before making purchasing decisions"; while low-income consumers face greater financial stress.
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