Beige book:
- manufacturers across US expressed concern on tariffs
- all districts report tight labor markets, higher spending
- pass-through to consumer prices slight to moderate
- tariffs caused disruptions, higher prices in many districts
- businesses report higher input prices, shrinking margins
- Price increases in all districts modest to moderate
- employment, wage gains were modest to moderate
- 10 of 12 districts seen moderate or modest growth
- inability to find workers hurt growth in many districts
- faster wage growth seen in a couple of districts
- several districts reported slow growth in existing home sales were not overly concerned about rising interest rates
- spending was up in all districts with particular strength in Dallas, Richmond
- few districts described input price pressures as elevated or strong
