The Federal Reserve's Beige Book shows that consumer spending is flat or declining

ChainCatcher news, according to Jinshi reports, the Federal Reserve's Beige Book indicates that consumer spending may remain flat or decline, as wages have not kept pace with rising prices for many households. Most businesses reported that their optimism has changed little, or there are differing views among their contacts regarding the direction of change. Since the last report, economic activity in most Federal Reserve districts has shown little or no change. Four districts reported moderate growth, while ten districts indicated that price increases were moderate or modest.