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FED Survey Shows that US Firms Are Pessimistic About Growth

Maxwell Williamson by Maxwell Williamson
January 20, 2023
in Finance
Reading Time: 2 mins read
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https://www.youtube.com/watch?v=-0ztlSK7bHg&t=2s

According to the Beige Book survey of the US Federal Reserve (FED), US companies expect limited economic growth in the coming months.

Fed published the January issue of the “Beige Book,” which includes assessments of the current situation in the American economy. The report, which was prepared with analyses from the bank’s 12 districts, stated that the general economic activity has not changed since November.

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Pointing out that low growth is expected in the economy in the future, the report stated that consumer spending increased slightly as some retailers made stronger sales during the holiday season. “Other retailers noted that high inflation continues to reduce the purchasing power of consumers, particularly among low- and middle-income households,” the report said.

Some News For FED Is Positive But May Not Be Sufficient

The Federal Reserve has overseen a significant acceleration in the pace of U.S. interest rate hiking over the course of the last 12 months, with regulatory modifications being adopted at higher intervals than had been witnessed for the previous four decades. This drastic surge was pursued to counter troublesome inflation cycles, but with plenty of ground finally gained, there’s an air of confidence among policymakers; they expect to be able to bring these efforts to a due conclusion come springtime, a natural juncture marked by presumptive target covering exceeding 5%.

Some News For FED Is Positive But May Not Be Sufficient

Some Industries Are Struggling

On Wednesday, extensive research led to the release of a compilation of anecdotal evidence. This data exposed a stark reality: many retailers failed in their attempts to add price hikes during financially turbulent times. Factors such as heightened consumer sensitivity towards prices played an integral role in marketplace resistance. In response, some companies used high discounts as a means to spur purchases and part with excess inventory.

Manufacturers in numerous districts reported that freight costs and commodity prices, such as steel and lumber, were continuously decreasing, alluding to an overall supportive climate. However, many more admitted that their input costs remained high despite the relaxing market. Evidently, such expenses prevail, thus restraining markets from reaching maximum capacity.

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Maxwell Williamson

Maxwell Williamson

I am Maxwell - my friends call me Maxy, graduated from Pomona College in Economics. I have a highly quantitative and analytical background with work experience in corporate finance, valuations, and strategic advisory services. My diverse background has allowed me to gain experiences in various industries geographies and enabled me to acquire an international and comprehensive perspective. Through my experiences in work, school, extracurricular activities, and sports; I gained essential leadership and collaborative skills that helped me to grow strong interpersonal and problem-solving skills. In addition to the analytical areas such as finance and data science, I love being creative and I learned JavaScript to design my own website and some web applications in order to use my deep learning models. Currently, by sharing financial analyzes in different news channels, I guide readers on how to make conscious investment strategies.

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