U.S. factories have raised their prices because of tariffs, although inflation has appeared modest or moderate in most parts of the country, the Federal Reserve said on Wednesday in its latest report on the economy.
The U.S. central bank also said in its latest Beige Book report that the economy appeared to be growing modestly to moderately and that businesses across a number of industries had reported labor shortages.
The report, a snapshot of the economy gleaned from discussions with business contacts in the Fed's 12 districts between September and mid-October, detailed business worries about the Trump administration's trade war with China and simmering tensions with other major trading partners.