UBS On-Air: Paul Donovan Daily Audio 'Something for everyone'
Update: 2025-11-27
Description
The Federal Reserve Beige Book of anecdotal evidence changed little—a stable outlook with some concerns. In the details, manufacturers and retailers expressed concerns about tariff-induced cost increases. Lags in supply chains mean that for retailers it is probably a reference to the April tariffs. The absence of hiring continues in the labor market. The willingness of high income consumers to spend was noted.
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