Powell Signals Cautious Path: Fed Holds Rates, Eyes Two Cuts Amid Oil Shock
TL;DR Summary
Fed Chair Powell rejects the stagflation label and says he’ll stay through an ongoing investigation as the Fed holds rates at 3.5%–3.75% and signals two potential cuts this year if inflation progresses. Oil-price shocks from the Iran war push near‑term inflation higher, though higher U.S. energy production could cushion some effects. Markets fell as investors weighed the policy stance against ongoing Middle East uncertainty.
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- Powell says 'stagflation' is a 1970s term, not what we face today Reuters
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