Fed holds rates steady, flags uncertainty as oil price soars amid war

The Federal Reserve is keeping interest rates unchanged while signaling concern about rising oil prices from the Iran conflict, which could drive up energy costs and inflation. Construction firms should watch for potential economic headwinds as higher fuel prices and uncertainty could impact project costs and labor availability.

The Fed faces a policy dilemma as the Iran war spurs a jump in energy prices, threatening to increase inflation, slow economic growth and push up unemployment.

This story was originally published by Construction Dive.