U.S. economic activity was relatively flat at the start of the year and businesses are pessimistic about growth, the Fed’s Beige Book suggests
Inflation showed some signs of easing while labor-market conditions remained tight, Federal Reserve’s business contacts report
Officials thought that high inflation would be temporary. But a year later, it was still near a four-decade high. WSJ’s Jon Hilsenrath explains three factors that have kept inflation up for longer than expected. Illustration: Jacob ReynoldsU.S. economic activity was relatively flat at the start of the year and businesses are pessimistic about growth in the months ahead, the Federal Reserve said in a Wednesday report.
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