TechFlow News, March 20: According to a CNBC interview, Federal Reserve Governor Christopher Waller stated that, given the unexpected rise in unemployment in February, he had originally planned to vote in favor of a rate cut at this week’s central bank meeting. However, amid escalating tensions over oil supply and persistent inflationary pressures, he realized a more cautious approach was warranted until the impact of the Iran conflict becomes clearer. Governor Waller said, “When the latest employment report showed a loss of 92,000 jobs last month, my immediate thought was, ‘Oh no—I disagree with the Fed’s decision this week to hold rates steady.’” But “since then, the Strait of Hormuz has been blocked. This appears to signal that the conflict will drag on longer and that oil prices will remain elevated for an extended period—raising greater concerns about inflation,” whose duration will depend on both the magnitude and persistence of energy price increases. (Jin10 Data)
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