The Iran war produces a sea change in Fed policy expectations

From thehill.com

The Federal Open Market Committee voted to keep monetary policy on hold last week as was widely anticipated amid uncertainty about oil prices since the conflict with Iran began. The interest rate projections of Fed officials that were released were unchanged from the December meeting: The median expectation is there will be one rate cut late this year. However, Fed chair Jerome Powell expressed concern about progress in lowering inflation at the press conference stating that “if you don’t see progress, you won’t see rate cuts.” This assessment impacted the Treasury bond market: Yields on the 10-year bond and ... (full story)