Fed Predicts Inflation Boost, No Growth Hit from Iran War
Bakersfield News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Federal Reserve predicts inflation to reach 2.7% by year-end due to Iran war, but expects no impact on economic growth. They plan one rate cut in 2026, anticipating gas price surge to subside if conflict ends soon. Unemployment forecast to remain at 4.4%. Gas prices have surged to $3.84 per gallon, causing short-term price pressures. Core inflation expected at 2.7% this year. Fed officials view war as a temporary supply shock, not warranting rate hikes. One governor dissented, advocating for a quarter-point cut immediately.
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