Amid ongoing Congressional testimony by Federal Reserve Chair Jerome Powell on Wednesday, the central bank also released its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts.
The Beige Book noted the U.S. economy strengthened further from late May to early July, with the pace of growth described as moderate to robust.
The transportation, travel and tourism, manufacturing, and non-financial services sectors reported above-average growth, while energy markets improved slightly, and agriculture had mixed results.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.