According to the latest FED Beige Book based on data collected by the (Fed) up to January 5, 2026:

• Economic activity in 8 out of 12 regions grew at a modest to moderate pace. This indicates an improvement compared to previous reports.
• Employment remained largely unchanged; companies increasingly relied on temporary workers and preferred to fill vacant positions.
• Wage increases have returned to more normal levels.
• Prices continued to rise at a moderate rate.