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Economic activity declined slightly in the US in recent weeks, indicating tariffs and elevated uncertainty are rippling across the economy, the Federal Reserve said in its Beige Book survey of regional business contacts.

Key Takeaways Business and community leaders throughout the country are having trouble planning for the future amid uncertainty about U.S. trade policy, a Fed report said Wednesday.The Beige Book compiled observations from the Fed's contacts in business who said they're paralyzed by lack of clarity about tariffs.