Fed officials expect the Iran war will worsen inflation this year, but have little impact on economic growth
With fuel prices likely to stoke inflation, projected rate cut less certain this year
Core prices jumped 0.4% for the second straight month
U.S. central bank governor pegs decision on strength of labour market
Prices rose 0.4% in December, up from 0.2% the previous month
The minutes underscored the deeply divided nature of the committee
Inflation fell to 2.4% in January relative to one year earlier — it's down from 2.7% in December
Lower-income households have lost ground since 2023
If confirmed by the Senate, he'll replace Jerome Powell as chair in May
Two officials dissented from the decision, preferring a cut