Fed Reports Modest Growth Amid 'Slight' Inflation

The video discusses the modest economic growth in July and August, highlighting stable consumer spending and a tight labor market. Inflation is expected to remain modest. A notable anecdote from the New York district reveals a truck driver shortage, with firms unable to raise wages due to limited pricing power. Overall, the report suggests a steady economic situation with no significant changes in inflation or pricing power.

What was the general sentiment regarding inflation in the report?

What challenges are businesses facing in terms of pricing power?