EL7.AI
Central BanksMedium•13 November 2026•
1 min read

Treasury's Bessent Urges Fed to Hold Rates Amid Iran War Energy Shock

Key Facts

1US Treasury Secretary Scott Bessent stated that the Federal Reserve should not hike interest rates due to energy supply shocks tied to the war with Iran.

US Treasury Secretary Scott Bessent stated that the Federal Reserve should not hike interest rates due to energy supply shocks tied to the war with Iran. Reuters reported that Bessent publicly advised the central bank to maintain an open mind and avoid rate increases in response to energy price spikes caused by the ongoing conflict.

The statement follows data from November 10, 2026, showing the Consumer Price Index (CPI) at 337.511 and a monthly inflation rate of 0.4%. Additionally, API crude oil stocks saw a change of 9 million barrels on November 10, 2026, highlighting the volatility in the energy sector amid current geopolitical pressures.

Federal Reserve Chair Kevin Warsh is scheduled to deliver a speech on November 16, 2026, which may provide insight into the central bank's stance following these comments. This follows a scheduled speech by Fed official Jefferson on November 14, 2026.