Fed’s Kashkari Says Next Rate Move Uncertain Because of Iran War

Federal Reserve Bank of Minneapolis President Neel Kashkari said the conflict in the Middle East has added uncertainty to the outlook for interest rates.

“Given the uncertainty around the Iran war, I actually don’t know what the future holds,” Kashkari said Thursday during an event in Marquette, Michigan. “If the Strait of Hormuz is closed for an extended period of time, it may well be that the next move might need to be up in interest rates.”

Kashkari was one of the three policymakers who dissented at last week’s meeting in opposition to wording that suggested the Fed’s next move ...