Fed Governor Cook warns Iran war raises inflation risks
Fed Governor Lisa Cook says the Iran war has shifted economic risks toward inflation. Rising oil prices have led markets to expect no rate cuts this year.
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Federal Reserve Governor Lisa Cook stated on Thursday that the ongoing conflict involving Iran has significantly altered the economic outlook, pushing the balance of risks toward higher inflation. Speaking at the Yale School of Management in New Haven, Connecticut, Cook noted that while the central bank's dual mandate of price stability and full employment remains a priority, the geopolitical situation has created new pressures.
"I see the balance of risks as being largely, on net, in balance, but I would argue that the inflation risk is greater right now as a result of the Iran war."
