Federal Reserve Governor Barr: Interest rates may need to remain stable for "some time".

According to Mars Finance, on March 25th, Federal Reserve Governor Michael Barr stated that policymakers may need to keep interest rates stable for "some time" to address inflationary pressures significantly above the central bank's 2% target. Barr indicated his support for the Fed's decision last week to maintain its benchmark policy rate for the second consecutive time. Officials noted that economic uncertainty has increased due to the US-Israel conflict in Iran, and have raised their inflation forecasts for this year. Since the start of the Middle East conflict, oil prices have risen significantly, posing a risk of pushing up inflation and suppressing economic growth. Barr stated that the situation in the Middle East presents "additional risks." He pointed out that high oil prices tend to quickly translate into higher gasoline prices, which is particularly painful for low- and middle-income families. (Wall Street News)