BIG PICTURE: The U.S. economy improved in every region of the country this spring, but higher oil prices remain a concern, according to a survey released Wednesday by the Federal Reserve.
SUPPORTING THE ECONOMY: Factories were busier, consumers spent more and companies boosted hiring in all 12 of the regions surveyed by the Fed.
INFLATION PRESSURE: But the report also found that high energy prices are putting pressure on businesses to raise their prices. Factories are finding it easier to raise prices to other businesses. But retailers have been more limited, fearing they might lose customers.