美联储“褐皮书”：美国物价普遍上涨 与加征关税相关

Economic Overview - The Federal Reserve's Beige Book report indicates that from mid-July to the end of August, all Federal Reserve districts experienced price increases related to tariffs [1] - The report highlights that many districts reported significant impacts of tariffs on input prices, with insurance, utilities, and tech services seeing price hikes [1] - Companies have largely passed on the increased costs to consumers, and there are widespread expectations of continued price increases in the coming months [1] Consumer Spending and Labor Market - Due to increased economic uncertainty and rising tariff rates, wage growth for many households has not kept pace with rising prices, leading to stagnant or declining consumer spending across all Federal Reserve districts [1] - Employment levels remained largely unchanged in 11 districts, with one district reporting a slight decline; seven districts showed reluctance to hire due to weakened demand or increased uncertainty, while two districts reported increased layoffs [1] Tariff Rates - The U.S. government has been imposing higher tariffs on trade partners, with the latest announcement on July 31 detailing tariff rates ranging from 10% to 41% for 69 trading partners [2] - As of August 7, the trade-weighted average tariff rate for all products imported into the U.S. rose significantly to 20.11%, compared to just 2.44% at the beginning of the year [2]