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The Federal Reserve grapples with rising oil and gas prices due to the Iran conflict, potentially delaying interest rate cuts and keeping borrowing costs high for home loans and car purchases. The twelve-member committee led by Chair Jerome Powell sees no clear path forward, with higher energy costs potentially boosting inflation short-term but a deep slowdown possibly demanding cuts to support employment. Experts advise the Fed to wait and see how things play out before acting, as mortgage rates ticked up to six point one percent last week. The Fed updated their quarterly forecasts, showing inflation above targets at two point six percent by year-end, with core measures at three point one percent recently. Memories of calling pandemic inflation transitory still haunt the bank, making rate relief less likely while prices stay elevated.
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Anchorage News Today | 2 Min News | The Daily News Now!

Anchorage News Today | 2 Min News | The Daily News Now!

Anchorage News Today | 2 Min News | The Daily News Now!