Fed’s Beige Book Shows Steady Employment, Higher Inflation (2)

Employment remained stable in recent weeks as inflation continued to rise across much of the country, driven primarily by the impact of war in the Middle East on energy prices, the Federal Reserve said.

Overall economic activity increased at a slight to moderate pace in 10 of 12 Fed districts, according to the US central bank’s Beige Book survey of regional business contacts released Wednesday.

“Districts noted that energy-related costs tied to the conflict in the Middle East were the primary driver of inflationary pressures, with spillovers into shipping, packaging, groceries and fertilizer,” the Fed said. “Consumer uncertainty and concerns ...