The report added, "Rising interest rates, general inflation, the Russian invasion of Ukraine, and disruptions from COVID-19 cases (especially in the Northeast) round out the key concerns impacting household and business plans." Most of the coastal districts noted hiring freezes or other signs that market tightness had begun to ease, although worker shortages continued to force many firms to operate below capacity. The release of the Beige Book comes two weeks before the Fed's next monetary policy meeting on June 14-15, when the central bank is widely expected to raise interest rates by another 50 basis points.