The Federal Reserve released its latest Beige Book on Wednesday, providing a new summary of commentaries on current economic conditions in the United States. The report revealed that half of the US Districts reported a slight expansion of economic activity in the first months of 2023 while supply chain disruptions continued to ease. The Beige Book also noted that consumer spending mostly held steady while noting that some Districts warned of the negative effects of rising inflation and interest rates on consumers’ income and purchasing power. “Inflationary pressures remained widespread, though price increases moderated in many Districts,” the report said. However, New York stood as an exception, reporting persistent inflationary pressures. In this District, business contacts argued the pace of input price hikes rebounded in the past weeks.