Federal Reserve Analysis: US firms weather Iran oil shock
A quarterly survey conducted by the Federal Reserve has shown that most American companies have been able to absorb the impact of the recent oil price shock, with the majority reporting slight increases in costs and a limited effect on demand, despite rising production costs in a third of the companies. Additionally, economic growth expectations have decreased to 1.8%. Inflation remains a major concern, as service prices continue to rise and some major banks plan to raise interest rates next September.
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