The latest Beige Book from the Federal Reserve indicates that economic activity across most districts has remained largely unchanged since the previous report, with only four districts experiencing modest growth. Consumer spending has either plateaued or declined, primarily due to wage growth failing to keep pace with rising prices. The labor market has seen little overall change, though some businesses have reduced hiring due to weak demand, and layoffs have increased in certain areas. The return-to-office policies and automation trends have accelerated natural attrition. In terms of pricing, ten districts reported moderate or modest price increases, but many regions are facing higher input costs due to tariffs. Despite rising customer price sensitivity, some businesses continue to face pressure to raise prices. Most districts anticipate future price increases, with some expecting these hikes to expand further.