(Finance) – The prospects for future economic growth remain positive, but pressure on prices also remains. This is what emerges from the report Federal Reserve called Beige Book, drawn up every six weeks on the basis of information collected in the 12 districts in which the US Central Bank operates and relating to the period between January and February.
The report highlights that the economic outlook continues to be positive, as the expectations for rate cuts they should stimulate growth just as labor market tension continues to ease and inflationary pressures moderate.
The consumption expenses have declined in recent weeks, as have spending on restaurants and hotels, due to high prices.
Economic activity “has increased slightly” since the beginning of Januaryit said, and the outlook for “future economic growth remained generally positive, with expectations for stronger demand and less restrictive financial conditions over the next 6 to 12 months.”
Unchanged themanufacturing activitywhile theoccupation increased at a rate between slight and modest in most districts. The outlook for future economic growth remains generally positive.
Yesterday, the chairman of the Federal Reserve, Powell, during the biannual hearing in the US Congress, reiterated that the monetary institution does not consider cuts in interest rates to be appropriate in the immediate future. The governor also indicated that the central bank plans to cut rates “at some point this year,” but not until policymakers gain confidence that the war on inflation will be won.