Fed Beige Book: Economic activity has remained basically unchanged in recent weeks, with increasing polarization among consumers.

[Fed Beige Book: Economic activity basically unchanged in recent weeks, consumer polarization intensifies] The Fed's Beige Book shows that economic activity in the United States has remained basically unchanged in recent weeks, with overall consumer spending further declining except for the high-end consumer group. The Beige Book points out that the U.S. labor market has slightly weakened, and price levels continue to rise moderately. The Fed stated in the report: “Overall economic outlook remains stable, with some surveyed companies warning of the risk of economic slowdown in the coming months, while the manufacturing sector shows cautious optimism.” Due to the longest government shutdown in U.S. history, which lasted until November 12, key economic data collection was interrupted, making recent field research reflecting the actual conditions of businesses and consumers a focus of attention. Fed officials will not be able to access complete labor market and inflation data for October and November before the December policy meeting.