Federal Reserve Governor Chris Waller said the surge in oil prices tied to the Iran war and lingering effects from U.S. tariffs could “lead to a more lasting increase in inflation,” potentially forcing the central bank to eschew further interest-rate cuts.
MarketWatch
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U.S. oil prices drop below $83 a barrel after Iran declares Strait of Hormuz ‘completely open’ during cease-fire
Oil prices were falling on Friday morning after Iran’s foreign minister said the passage for all commercial vessels through Strait of Hormuz is declared open for the remaining period of the cease-fire.
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