The US Federal Reserve (Fed) left its target range for interest rates unchanged at 3.50-3.75 percent at its meeting today, by an 11-to-1 margin.
For example, Fed Chairman Jerome Powell said it was “too early” to fully assess the full economic impact of the war in the Middle East.
He noted that the continued rise in oil prices was increasing the risk that inflation would further exceed the Fed’s 2 percent target, making it more difficult to make policy decisions.
Powell also added that the Fed would “not follow a rigid path” and that whether to raise or lower interest rates in the future would depend on macroeconomic data and geopolitical developments.
