Fed Beige Book: Iran War Puts US Companies in a Holding Pattern

The Federal Reserve said in a report on Wednesday that economic activity in the United States has increased in recent weeks, and the unemployment rate remains stable. The report also pointed out the significant impact of the soaring energy prices during the ongoing Iran conflict. The Federal Reserve stated in its latest beige book, "The Middle East conflict is considered a major source of uncertainty, making decisions about hiring, pricing, and capital investment complex, and many businesses are taking a wait-and-see approach." This report summarizes qualitative economic data nationwide, which policymakers use to help understand the economic situation and make interest rate decisions. The report stated, "With widespread uncertainty about future conditions, business prospects vary." It is expected that the Federal Reserve will maintain its benchmark overnight interest rate in the current range of 3.50% to 3.75% at its next policy meeting on April 28-29.