Federal Reserve “Brown Book”: Greater uncertainty about the future of the United States economy

On 3 September, a national economic situation survey released by the United States Federal Reserve Board on 2 September revealed that, while economic activity in the United States remained generally moderate to moderate between early July and 24 August, the increase in energy prices, policy changes and international conflicts had led to greater uncertainty. Under the United States Federal Reserve Act, the United States is divided into 12 Federal Reserve Areas, each of which has a Federal Reserve Bank. The report is based on the latest findings of the 12 Federal Reserve banks and is also known as the “brown paper”. It was reported that 10 of the 12 Federal Reserve zones experienced moderate to moderate growth in economic activity and 2 remained unchanged. Consumer spending has increased slightly, but consumers are more sensitive to prices. Automobile sales have been depressed by factors such as insufficient consumer confidence, high oil prices and rising financing costs. Agriculture, although slightly improved, remains generally weak. The report notes that uncertainty continues to be high as a result of factors such as rising energy prices, policy changes and international conflicts. Xinhua