Federal Reserve Reports Economic Growth in 11 of 12 Regions, Price Pressures Ease on July 15

According to the Federal Reserve's Beige Book released on July 15, 11 of 12 regional Federal Reserve districts reported slight-to-moderate economic activity growth, with one region showing no change. The pace was consistent with the prior reporting period.

Price growth was characterized as moderate overall, with nine districts reporting moderate increases, two reporting robust increases, and one reporting modest increases. This marks a downward revision from May's assessment of moderate-to-strong price pressures. The central bank noted that price momentum was equal to or slower across all regions compared to the prior period. Labor market conditions improved, with five districts showing modest to solid employment gains, while seven experienced little-to-no change—an improvement from May's report of 11 districts with flat-to-no growth.