Fed's Waller Warns of Rate Hikes as Iran War Inflation Derails Global Cut Cycle
Fed Governor Christopher Waller said on May 22 he can no longer rule out rate hikes if inflation persists, upending market expectations worldwide. The FOMC voted 8-4 to hold—an unusually divided decision—as Iran War oil shocks cloud the inflation outlook. A stronger dollar and rising US Treasury yields are already tightening financial conditions from Jakarta to São Paulo.
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