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Financial News: Beige Book Shows Anxiety Over Potential Trade War

Beige Book Shows Anxiety Over Potential Trade War

04/18/2018 - 14:07:00 (RTTNews)

(RTTNews) - Business owners are getting nervous about a possible trade war with China, according to the Federal Reserve's Beige Book.

"Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture, and transportation expressed concern about the newly imposed and/or proposed tariffs," the Beige Book read.

Economic activity continued to expand at a modest to moderate pace across the 12 Federal Reserve Districts in March and early April.

Widespread employment growth continued, but many respondents noted difficulty finding qualified candidates across a broad array of industries and skill levels. Reports of labor shortages over the reporting period were most often cited in high-skill positions.

Looking at inflation, prices increased across all Districts, generally at a moderate pace, and business expect prices will continue to rise in the coming months.

There were widespread reports that steel prices rose, sometimes dramatically, due to the new tariff proposed by President Donald Trump.

The Beige Book is a collection of anecdotal information gathered by the Federal Reserve eight times a year.

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