JunShao (junshao)

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According to the latest Federal Reserve Beige Book report, the U.S. economy has slightly declined over the past six weeks, primarily due to a slowdown in hiring activity and increased caution among businesses and consumers over concerns about tariff-driven price increases. The report states: • All 12 Federal Reserve districts recorded high levels of economic and policy uncertainty, leading to more cautious decision-making by businesses and consumers. • Labor demand has decreased, with reduced working hours and overtime, and some areas have paused hiring or are planning layoffs. • Layoffs have occurred in some regions but have not yet spread nationwide. • Inflation is rising at a moderate pace, but many businesses anticipate faster price increases in the near future, particularly due to higher import tariffs. • Some businesses may reduce profit margins to maintain prices, while others plan to impose temporary fees or surcharges in the next three months to offset costs.

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President Trump: The easiest way to save billions is to cut Musk’s government grants and contracts. I’m shocked Biden never did this! Elon’s “down in the dumps” because I told him to step aside, and I scrapped his electric vehicle mandate that forced people to buy EVs nobody wants. (He knew I’d do this months ago!) He’s fuming!

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recast:farcaster://casts/0x11adcc5797f629d1cb140d8383fb776f5c59980981407cd6bfbc769c7043b70f

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