Fed Beige Book: Overall economic activity saw increase early 2023
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Reuters reported on the Federal Reserve’s Beige Book and noted that the report said that the US economic activity increased slightly from January through late February and price increases remained widespread, but businesses reported a moderation in inflation that they expect to continue this year.
The US dollar was steady near 105.70 as per the DXY index following the release but it was down from three-month highs reached earlier on Wednesday after Federal Reserve Chairman Jerome Powell offered no major surprises on his second day of testimony before Congress. eyes are now on the US Nonfarm Payrolls at the end of the week.
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