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<h2><strong>Concerns Emerge Over Tariff-Induced Price Increases</strong></h2>
<p>Recent insights from the Federal Reserve's "Beige Book" reveal rising expectations for price hikes, attributed to tariffs imposed by President Trump.</p>
<p>The report, released on Wednesday, gathers observations from business leaders across the Fed's 12 regional districts. It highlights that many businesses are facing noticeable cost increases and are often passing these costs onto consumers. The tariffs, especially the substantial duties on imported steel, have significantly affected construction and manufacturing sectors.</p>
<p>According to the Beige Book, "All twelve Districts reported moderate to strong input cost pressures from tariffs, particularly on materials for manufacturing and construction." Many companies increased prices or imposed surcharges, although some chose to hold back due to rising customer price sensitivity, which in turn is narrowing profit margins.</p>
<p>This information contributes to ongoing discussions about who bears the burden of Trump's extensive import taxes, which have generated significant revenue for the government each month.</p>
<p>While inflation pressures have been gradual since the initial tariffs were enacted in March, recent official inflation data from June indicates a shift. If the Beige Book's observations are accurate, a rise in consumer prices could occur as summer progresses.</p>
<p>Contacts across various sectors anticipate persistently high cost pressures in the months ahead, likely resulting in accelerated consumer price inflation by late summer. Although "uncertainty" remains a prevailing theme, references to it have decreased significantly.</p>
<p>The Fed has maintained its interest rate strategy this year, resisting pressures to cut rates, which has been a point of contention with Trump. The Beige Book's findings might further solidify Fed officials' caution regarding rate adjustments.</p>
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