US Edition
Powell sees inflation outlook in check, no need to hike rates because of oil shock
Powell said inflation expectations remain stable despite near $4 gas prices and ongoing Iran conflict, with Fed monitoring closely before considering rate hikes.
- Federal Reserve Chair Jerome Powell said Monday at Harvard University that the Federal Reserve's response to the US-Israeli war on Iran hinges on how the conflict affects inflation expectations.
- The Iran war stretches into its fifth week, with President Donald Trump threatening to destroy energy infrastructure if the conflict continues to threaten the Strait of Hormuz, a major global oil chokepoint.
- Brent crude prices climbed past $116 a barrel Monday, while Americans' consumer sentiment declined 6% this month to its lowest point since December.
- Powell hinted at keeping interest rates unchanged in the short term, stating "Monetary policy works with long and variable lags," so the Fed will look through the current energy price shock.
- President Donald Trump nominated Governor Kevin Warsh as the next chair, but the Senate Banking Committee is holding the confirmation amid an investigation by Attorney Jeanine Pirro into Fed headquarters.
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85 Articles
By Bryan Mena, CNN. The Federal Reserve's response to the U.S.-Israeli war against Iran depends largely on how the conflict affects Americans' expectations about inflation, Fed Chairman Jerome Powell said Monday. "The tendency is to look beyond any kind of supply shock," he said during a panel hosted by Harvard University. "But a critical and essential aspect of that is that you have to carefully monitor inflation expectations."
Fed’s Powell says no need to hike interest rates now — officials should look past higher energy prices
Federal Reserve Chair Jerome Powell said Monday that policymakers should look past rising energy prices sparked by the war on Iran, adding that there is no need to hike interest rates now.
Los Angeles Times
eldiariodechihuahua.mxFederal Reserve President Jerome Powell said Monday that it is important to closely monitor inflation in the midst of an upturn in energy prices due to the war in Iran.
The president of the Federal Reserve considered that the current monetary policy of the entity he leads is in a "appropriate position" to face the war in Iran
Associated Press News
Powell says Fed is monitoring energy price spikes, but that it's limited in what it can do
Federal Reserve Chair Jerome Powell says it's important to closely monitor inflation amid a spike in energy prices from the Iran war as the average price for for gasoline nears $4 a gallon in the U.S.
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