Federal Reserve officials meet this week as the war in the Middle East reaches the two-month mark, creating continued uncertainty about the impact on the economy. It’s likely to keep the central bank holding interest rates where they are.
“There’s still uncertainty about how this war is going to be resolved, and oil prices have been volatile. But they’re still well above where they were before the war started, and so that will eventually have an impact on the economy,” former Cleveland Federal Reserve president Loretta Mester said.