The Federal Reserve (FED) Beige Book: Tariffs are putting upward pressure on costs and prices.

Jin10 data reported on June 5, The Federal Reserve (FED) Beige Book indicates that prices have been rising at a moderate pace since the last report. There are widespread reports that respondents expect costs and prices to rise at a faster pace in the future. A few regions describe these expected cost increases as strong. Reports from all regions point out that higher tariff rates are putting upward pressure on costs and prices. However, respondents have various ways of coping with these higher costs, including raising prices on affected goods, raising prices on all goods, reducing profit margins, and charging temporary fees or surcharges. Respondents planning to pass on tariff-related costs expect to take action within three months.