The Beige Book of the US Federal Reserve (Fed), a document that provides a detailed assessment of the economy by the 12 US regional central banks, indicated that the country grew “slightly” at the beginning of the year.

“Economic activity rose slightly at the beginning of 2023“, says the document published this Wednesday by the Fed.

Consumption remained stable, although some districts registered moderate to strong increases in retail sales at a time that is not characterized by the vigor of this sector. In addition, the tourism sector has also been “quite robust” in most regions.

Regarding manufacturing activity, it stabilized after a period of contraction, while the disruptions in the supply chains have been resolved. Energy activity remained unchanged or fell slightly, and agricultural activity exhibited “mixed” signs. Subsequently, credit demand fell, concession standards tightened and “delinquency rose.”

Source: dpa

(Reference image source: file)

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The United States Federal Reserve (Fed) announced that during 2021 it will resume its listening events, called ‘Fed Listens’, with the aim of getting first-hand information about the economic recovery after the crisis caused by the pandemic of Covid-19.

The ‘Fed Listens’ events were held throughout 2019 with the aim of establishing a dialogue with the public in order to better cope with the monetary policy review. The changes were formalized in August 2020, when the Fed modified its monetary strategy to allow inflation to exceed the 2 % threshold for a certain period of time.

The goal of the events taking place this year will be to hear directly from citizens, households and communities about the economic recovery.

“During the review of the Federal Reserve’s 2019 monetary policy framework, the ‘Fed Listens’ series of events provided valuable ‘feedback’ from a wide range of groups and communities on the economy and other issues related to our investment objectives. monetary policy,” said Michelle Bowman, governor of the Fed.

“Continuing the initiative in years when we are not reviewing the framework will equally benefit the Federal Reserve’s policy process, while improving transparency and accountability,” the directive added.

K. Tovar

Source: dpa

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