美联储最新美国经济状况报告（俗称“褐皮书”）：“关税焦虑”大爆发（英）2025

The Beige BookSummary of Commentary onCurrent Economic Conditions byFederal Reserve DistrictApril 2025F E D E R A L R E S E R V E S Y S T E MContentsAbout This Publication .................................................................................................... iiNational Summary ........................................................................................................... 1Federal Reserve Bank of Boston .................................................................................. 5Federal Reserve Bank of New York .............................................................................. 9Federal Reserve Bank of Philadelphia ....................................................................... 13Federal Reserve Bank of Cleveland ............................................................................ 17Federal Reserve Bank of Richmond ........................................................................... 21Federal Reserve Bank of Atlanta ................................................................................ 25Federal Reserve Bank of Chicago .............................................................................. 29Federal Reserve Bank of St. Louis ............................................................................. 32Federal Reserve Bank of Minneapolis ....................................................................... 36Federal Reserve Bank of Kansas City ........................................................................ 40Federal Reserve Bank of Dallas .................................................................................. 44Federal Reserve Bank of San Francisco .................................................................... 48iAbout This PublicationWhat is the Beige Book?The Beige Book is a Federal Reserve System publication about current economic conditionsacross the 12 Federal Reserve Districts. It characterizes regional economic conditions and pros-pects based on a variety of mostly qualitative information, gathered directly from each District’ssources. Reports are published eight times per year.What is the purpose of the Beige Book?The Beige Book is intended to characterize the change in economic conditions since the lastreport. Outreach for the Beige Book is one of many ways the Federal Reserve System engageswith businesses and other organizations about economic developments in their communities.Because this information is collected from a wide range of contacts through a variety of formaland informal methods, the Beige Book can complement other forms of regional information gath-ering. The Beige Book is not a commentary on the views of Federal Reserve officials.How is the information collected?Each Federal Reserve Bank gathers information on current economic conditions in its Districtthrough reports from Bank and Branch directors, plus interviews and online questionnaires com-pleted by businesses, community organizations, economists, market exp