Gas prices add pressure on consumers, Federal Reserve holds rates steady as inflation concerns persist

Powell Urges Patience As Fed Holds Rates Steady Amid Iran Conflict

WASHINGTON—The Federal Reserve this week held interest rates steady, a shock to observers who assumed geopolitical tensions and rising oil prices may have moved the board to cut rates.Fed Chair Jerome Powell stressed in a Wednesday briefing that the board was holding steady as events in the Middle East played out.“In the near term, higher energy prices will push up overall inflation,” Powell said, “but it is too soon to know the scope and durati…

Even Jerome Powell doesn’t know what’s going on with the economy

In normal times, the Federal Reserve would more or less ignore an oil price shock like the one we’re in now.

Federal Reserve holds benchmark interest rate steady amid wartime uncertainty

The Federal Reserve held its benchmark interest rate steady this week. The central bank says it's too soon to know how the wartime spike in energy prices will affect overall inflation.

Fed holds interest rates steady amid Middle East tensions

The Federal Reserve kept its benchmark interest rate at 3.5%–3.75%, with chair Jerome Powell citing inflation concerns in the emerging Middle East war.

Gas prices add pressure on consumers, Federal Reserve holds rates steady as inflation concerns persist

In a statement, the Federal Reserve said that “implications of developments in the Middle East for the U.S. economy are uncertain.”

The Fed holds rates steady yet again

Federal Reserve Chair Jerome Powell said implications of developments in the Middle East for the U.S. economy are uncertain, though they weren’t the only drivers of inflation.