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Watch live: Powell gives remarks as Federal Reserve keeps rates steady amid Iran conflict

What happened

Global stock and bond markets fell sharply as escalating conflict with England 'ready to act' as it warns Iran war 'shock' will push up inflati">Iran drove oil and gas prices higher. Federal Reserve Chair Jerome Powell warned that rising energy costs will increase inflation and may limit potential interest rate cuts. The market selloff reflects growing concerns about stagflation risks from the Middle East conflict.

Why people care
Energy price spikes from geopolitical conflicts Hearing Was the Funniest in Ages—and Might Have ">have historically triggered major economic disruptions and policy shifts. Investors are grappling with whether sustained higher oil prices will force central banks to maintain tighter monetary policy, potentially slowing economic growth while inflation rises.
The takes
Market concerns

Rising oil and gas prices from Middle East conflict will fuel broader inflation pressures across the economy. Central banks may need to keep interest rates higher for longer or even tighten policy further, risking economic growth to combat price increases.

Fed positioning

While energy price increases will temporarily boost headline inflation, the Federal Reserve is monitoring whether these effects prove persistent enough to alter monetary policy. Current rate policy remains appropriate while officials assess the evolving economic impacts of geopolitical developments.

Sources
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