Fed expected to stand pat this week amid ongoing uncertainty from Iran conflict

Federal Reserve officials meet this week as the war in the Middle East reaches the two-month mark, creating continued uncertainty about the impact on the economy. It’s likely to keep the central bank holding interest rates where they are.

“There's still uncertainty about how this war is going to be resolved, and oil prices have been volatile. But they're still well above where they were before the war started, and so that will eventually have an impact on the economy,” former Cleveland Federal Reserve president Loretta Mester said.

Policymakers are weighing the war’s impact on inflation and growth, waiting to see how severe it will be, depending on how long the war lasts.

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