Kashkari Says Iran War Limits Fed Interest Rate Guidance
Kashkari said the Iran war and energy price volatility make it difficult for the Fed to provide rate guidance. He noted the conflict could require rate hikes.
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Federal Reserve Bank of Minneapolis President Neel Kashkari said Sunday afternoon that the conflict in Iran limits the central bank's ability to provide interest rate guidance. Kashkari noted that the closure of the Strait of Hormuz, which handles 20% of global Brent Crude Oil and Natural Gas supplies, creates persistent inflationary pressure. For investors, this shift signals a move away from signaled rate cuts toward a "higher-for-longer" or even a tightening stance.
