US firms fret about high prices, wages

Solid growth continued across the United States, even as firms faced an ongoing struggle with a worker shortage and rising prices, although there were some tentative signs the tide may be turning, the Federal Reserve said Wednesday.

The central bank's latest "beige book" survey of business conditions noted red flags in some regions where there were rising concerns about an economic downturn. All 12 Fed regions reported growth, although a third of those said the pace has slowed, and three "specifically expressed concerns about a recession," the report said.