Jon Faust, who advised three Fed chairs, doesn't see an interest-rate cut until December - an even then, the odds of a move are just 50/50 The Israel-Iran conflict "is a major wild card" for the Federal Reserve and might spark an economic downturn, although it is too soon to know how it will play out, said Jon Faust, a former top adviser to Fed Chairman Jerome Powell. "To the extent [the conflict] yields a large rise in oil prices and a further shock to uncertainty, and thereby confidence, is the sort of thing that would tip a slowdown," said Jon Faust, a fellow at the Center for Financial Economics at Johns ... (full story)