Fed's Inflation Mystery Continues With Latest Beige Book

The Beige Book reports modest to moderate growth across all 12 Federal Reserve districts, with widespread labor market tightening. Despite labor shortages, wage inflation remains modest, as firms are reluctant to pass increased input costs to customers due to limited pricing power. The report also highlights the economic impact of recent storms, noting recovery and increased demand in certain sectors, such as manufacturing and construction materials, particularly in the Dallas and Chicago districts.

What was noted about manufacturing input costs in the Beige Book?

What impact did the storms have on the manufacturing sector as reported by the Dallas Fed?