美联储“褐皮书”：美国经济不确定性居高位 关税推高物价

Economic Overview - The Federal Reserve's report indicates high levels of economic and policy uncertainty in the U.S., negatively impacting businesses and households [1][2] - Since late April, overall economic activity has slightly declined, with half of the Federal Reserve districts experiencing mild or moderate downturns [1] - Consumer spending shows mixed results, with most districts reporting slight declines or no change, although some anticipate increased spending due to tariff impacts [1] Employment Trends - Employment conditions across most Federal Reserve districts have remained stable, but there is a noted decrease in labor demand, reflected in reduced working hours, paused hiring, and planned layoffs [1] Price and Cost Pressures - Since late April, there has been a slight increase in prices, with widespread expectations of faster price and cost increases across all Federal Reserve districts [2] - The report highlights that tariff increases are contributing to upward pressure on costs and prices [2] Future Outlook - The overall economic outlook remains slightly pessimistic and uncertain, showing no significant change from the previous report [1] - The next Federal Reserve monetary policy meeting is scheduled for June 17-18, which will consider the findings of this report [2]