The Federal Reserve's "Brown Book" shows that the Middle East conflict has become a source of economic uncertainty for the United States According to a report by Golden Finance on April 16th, the National Economic Situation Survey released by the Federal Reserve on April 15th showed that during the most recent reporting period from February 24th to April 6th, the Middle East conflict became a source of economic uncertainty in the United States, and transmitted to the real economy through energy prices and commodity markets, causing impacts on business decision-making and price levels. According to the Federal Reserve Act of the United States, the country is divided into 12 Federal Reserve districts, with one Federal Reserve Bank established in each district. This report is compiled based on the latest survey results of 12 Federal Reserve banks, also known as the 'brown book'. According to the report, the Middle East conflict has made recruitment, pricing, and capital investment decisions for American companies more complex, with many adopting a wait-and-see attitude. In addition, the increase in investment costs for enterprises exceeds the growth in profits, resulting in a compression of profit margins. The energy and fuel costs of all 12 Federal Reserve districts in the United States have significantly increased due to the Middle East conflict, resulting in higher transportation costs for goods and rising prices for plastics, fertilizers, and other petroleum products. The report believes that the high oil prices and rising cost of living brought about by the Middle East conflict have begun to squeeze the middle and low-income groups, manifested as increased financial pressure, rising price sensitivity, and increased demand for social assistance. The Federal Reserve releases the "Beige Book" eight times a year to assess the economic situation in the United States through the Federal Reserve Bank. This report is an important reference material for the Federal Reserve's monetary policy meeting. The next monetary policy meeting of the Federal Reserve will be held on April 28-29.