The Federal Reserve's Beige Book: Inflation is squeezing American consumers and businesses; the impact of oil prices has spread to various sectors.

CoinFeed reported on June 4th that, according to a report by Cailian Press, the Federal Reserve's Beige Book released on Wednesday showed that although the AI ​​investment boom continues, the US economy is showing signs of pressure on consumption, weak hiring, and rising prices. Data showed that among the 12 Fed districts, economic activity grew at a "slight to moderate" pace in 10 districts, declined slightly in one district, and remained unchanged in one district. The report indicated that businesses' outlook for the next six months remained largely unchanged, but persistently high uncertainty and signs of slowing consumer spending are dragging down market sentiment, with businesses expecting no significant improvement in the economic growth outlook. Districts generally reported that rising energy costs related to the Middle East conflict are the main source of current inflationary pressures, which have further spread to transportation, packaging, groceries, and fertilizers.