U.S. Growth Slowed in Recent Months Amid Elevated Prices, Fed’s Beige Book Says
Companies were burdened with supply-chain disruptions and higher costs, report shows
U.S. economic growth slowed to a modest to moderate rate this fall as firms confronted supply-chain disruptions, elevated prices, a shortage of available workers and fears around the Delta variant of Covid-19, the Federal Reserve said Wednesday.
Many businesses said they expected higher prices and supply shortages to last another year or so. The report, known as the Beige Book, collects anecdotes from businesses in Fed districts around the country.