Fed Beige Book Shows Mixed US Growth, Steady Labor Markets, Moderate Price Pressures

02:38 PM EDT, 10/14/2026 (MT Newswires) -- Economic growth and inflation were mixed across the US in the recent period, the Federal Reserve's latest Beige Book update released Wednesday showed. Since the prior report, two of the 12 Federal Reserve Districts reported moderate growth in economic activity, three reported modest growth, four reported slight growth, and three reported no significant change. Manufacturing growth was robust in the Dallas district, while six other districts reported modest or moderate growth, and five saw little or no factory-sector growth. "Most districts reported little or no change in overall consumer spending," the summary showed. "Auto contacts noted flat to modestly lower sales in five of the six districts that reported," and over half of the districts said consumer spending was driven by high-income households, the report said. Most districts maintained a positive outlook for the next few months, though expectations were generally for only slight growth amid persistent uncertainties. Labor markets were little changed overall, the summary said. Three districts reported modest increases in employment, five reported slight increases, and four reported no significant change. Labor supply was generally adequate, though shortages persisted for specialized, technical and skilled-trade workers. Several districts noted that inflation has pushed wage demands higher and that benefit costs have risen. "Three districts characterized overall price growth as robust," eight reported moderate growth with several noting "intensifying" input-price pressures, and one reported modest growth, the summary said. Four districts said the pace of price increases had picked up since the prior period. Rising energy prices were cited across all districts.