Fed Minutes Show Officials in No Rush to Cut as Iran War Scrambled Outlook
The conflict in the Middle East has left the Federal Reserve braced for higher inflation, with more officials open to the possibility of rate increases.
The conflict in the Middle East has left the Federal Reserve braced for higher inflation, with more officials open to the possibility of rate increases.
The war in the Middle East risks worsening an inflation problem that the Federal Reserve has struggled for years to subdue.
The average rate on a 30-year mortgage in the United States hit 6.38 percent, the fourth increase since the war began.
Rising energy costs and concerns about inflation have helped lift borrowing costs for a home mortgage for the third consecutive week.
Investors now expect that the Fed will delay a rate cut until September instead of July, as they had before the war in Iran began.
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