Fed was ‘appropriately cautious’ at two-day policy meeting, says Gary Stern

The implications of events in the Middle East for the US economy are uncertain. In the near term, higher energy prices will push up overall inflation, but it is too soon to know the scope and duration of the potential effects on the economy. >> That was the Fed chair at yesterday's news conference talking about the impact of the war on inflation.Those comments followed the decision to pause cuts for the second consecutive time as the war complicates the outlook for rates. Fed funds futures now implying that ...