Fed survey finds concerns about rising trade tensions

The Federal Reserve reported  that its latest survey of business conditions nationwide found rising concerns over the impact Trump administration trade policies could have on the economy. The Fed’s 12 regional banks said the economy is growing at a moderate pace although three districts — Philadelphia, St. Louis and Kansas City — depicted activity as somewhat below average.While businesses remained optimistic about near-term prospects, the Fed found worries about trade had prompted some businesses to scale back or postpone their capital investment plans. Higher tariffs stemming from President Donald Trump’s get-tough trade policies were reported to be pushing up input costs for some manufactured goods.The Fed survey reported that labor markets were tight throughout the country with construction workers, truck drivers, engineers and other high-skilled workers remaining in short-supply. But the report also found that a number of Fed districts were also seeing shortages of lower-skilled workers at restaurants, retail stores and other places as the country’s unemployment rate has fallen to 3.9 percent, its lowest point in nearly two decades.