US firms point to steady economy but see lower profit margins, Fed says
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U.S. economic activity was little changed from September through early October; firms reported a slight uptick in hiring; Federal Reserve expects a 25-basis-point reduction in borrowing costs at the Nov. 6-7 meeting; inflation pressures are moderating; input prices rose faster than selling prices, affecting profit margins; U.S. job gains increased significantly in September, with unemployment at 4.1%; retail sales showed solid growth; businesses remain cautious due to election uncertainty; annual price increases slowed to 2.2% in August; input prices rose moderately, particularly in insurance and healthcare; Fed's Beige Book survey conducted through Oct. 11.
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https://www.kitco.com/news/off-the-wire/2024-10-23/us-firms-point-steady-economy-see-lower-profit-margins-fed-says
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