Fed's Waller Signals Rate Hike Path as Iran War Keeps Inflation Pressure Elevated
Federal Reserve Governor Christopher Waller reset rate-cut expectations on May 22, warning that Iran War-driven inflation may require prolonged tightening. The FOMC held rates at 3.50–3.75% in a narrow 8-4 vote, exposing deep internal divisions. Treasury yields are approaching two-decade highs as markets begin pricing in hikes, not cuts.
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