WASHINGTON, Oct. 17 -- The Federal Reserve Bank of San Francisco issued the following Beige Book on Oct. 15, 2025: * * * Summary of Economic Activity Economic activity in the Twelfth District edged down slightly during the mid-August to September reporting period. Employment levels were little changed on net as most employers held head counts steady. Wages grew slightly, and prices rose modestly. Activity in retail trade and residential real estate decreased somewhat while commercial real est  more