Powell says Iran war isn't hurting inflation forecasts.
The Federal Reserve is watching the conflict between the United States and Iran. This conflict is causing higher oil prices. The IMF warns this is hurting the global economy.
The conflict began with a blockade of the Strait of Ormuz. This has led to rising oil prices. The International Monetary Fund believes this is increasing inflation. They are worried about disruptions to global trade. The Fed is monitoring the situation for its effect on the US economy.
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Highlights
Powell's Inflation Expectations
Jerome Powell said the war in Iran isn't changing inflation forecasts.
IMF Warns of Inflation
The IMF says the Iran conflict is raising inflation.
Supply Chain Disruptions
The conflict threatens global supply chains.
Economic Instability Risk
The IMF sees a risk to the world economy.
Ormuz Strait Blockade
The war started with a blockade of the Strait of Ormuz.