On April 16, Treasury Secretary Yellen stated that a Fed rate cut is possible this year. She projected that US economic growth could exceed 3% or 3.5% this year despite the war involving Iran. On April 17, FOMC minutes revealed the Fed's concerns about the war's impacts. The Fed views a rate hike as likely as a cut due to increasing two-sided risks. Federal Reserve governor Chris Waller expressed concern about a lasting increase in inflation due to the surge in oil prices linked to the Iran war.
