The Federal Reserve's Beige Book showed that economic activity was largely unchanged, with consumer spending declining.

According to ChainCatcher, citing Jinshi News, the Federal Reserve's Beige Book showed that U.S. economic activity remained largely unchanged in recent weeks, with overall consumer spending declining further, except for high-end consumers. The report noted a slight weakening in the U.S. job market and a moderate increase in price levels. The Fed stated that "the overall economic outlook remains stable," although some businesses warned of a risk of economic slowdown in the coming months. Due to the disruption of key economic data collection caused by the U.S. government shutdown, on-site surveys have become particularly important.