The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. US economic activity continued to increase at a slight-to-modest pace across most regions as the war with Iran generated a new wave of uncertainty and higher energy costs, the Federal Reserve said.Price growth remained moderate overall, but energy and fuel costs rose sharply in all 12 Fed districts, the central bank reported in its Beige Book survey of regional business contacts released Wednesday.“The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing and capital investment, with many firms adopting a wait-and-see posture,” the Fed said.The report featured information compiled by the New York Fed and collected through April 6, capturing the early effects of the war on the US economy.The report also noted that price pressures were bleeding beyond energy.“Energy and fuel costs rose sharply in all districts, attributed to the Middle East conflict, leading to higher freight and shipping costs and higher prices for plastics, fertilizers and other petroleum-based products,” the Fed said. “Input cost pressures beyond energy-related increases were also widespread.”The oil shock spurred by the conflict has sent gasoline prices in the US to their highest level since 2022, leading US inflation to jump in March. Several Fed policymakers have signaled a preference to keep borrowing costs steady for quite some time while they evaluate the economic data. Officials are expected to leave their benchmark rate unchanged when they meet on April 28-29, according to pricing in futures contracts.Today's show features: Michael McKee, Bloomberg TV and Radio International Economics & Policy Correspondent on Fed's Beige Book Nicola Willis, New Zealand Finance Minister, on how inflation will go 'much higher' if Iran war drags on John Roberts, analyst at Mizuho, on the global chemicals market Jennifer Rie, Bloomberg Intelligence Senior Antitrust Litigation Analyst on Live Nation Illegally monopolized ticketing market. Michael Ha, Baird Senior Research Analyst and Avalon Pernell, Bloomberg News Equities Reporter on UnitedHealth’s Last Bear Stands Pat After Medicare Rate Hike See omnystudio.com/listener for privacy information.

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