Fed's August Beige Book Shows a Two-Speed Consumer
Consumer FinanceThe Federal Reserve's August 2026 Beige Book found consumer spending growing only slightly overall, masking a split: the Federal Reserve Bank of New York reported high-end spending offsetting weak mid-tier volume, while the Federal Reserve Bank of Atlanta's contacts said lower-income households increasingly used credit cards, payday loans and buy-now-pay-later to cover essentials, per the Fed's Aug. 24 data cutoff.