Fed’s Williams, Kashkari Point to New Uncertainty From Iran War

Two Federal Reserve officials on Tuesday said the US-Israeli attacks on Iran had introduced another element of uncertainty for policymakers, with the most important question centering on how long energy prices might remain elevated.

“Right now it’s just too soon to know what imprint this has on inflation and for how long,” Minneapolis Fed President Neel Kashkari said at the Bloomberg Invest conference in New York.

Kashkari, who had previously penciled in one quarter-point interest-rate cut in his outlook for the year, said he was no longer as confident about that call. “Now, with the geopolitical events, we need to ...