The Beige Book suggests the economy is starting to bear the scars of the war, with businesses adopting a wait-and-see posture on hiring and investment.
Notes more part-time hiring and price rises concentrated in fuel/gasoline.
Michael McKee
Markets are acting prematurely; oil price damage will be worse and last longer than expected.
Cites experts at IMF/IIF saying ceasefire won't bring prices down; needs end to war and Strait of Hormuz reopening for real relief.
Michael McKee
Legally, the President likely cannot fire Fed Chair Powell without cause, and confirmation delays could lead to a legal fight over leadership.
Compares to Lisa Cook case; notes allegations are general with no charges.