00:00It's Benzinga bringing Wall Street to Main Street.
00:02Economists are warning that Americans may wait longer for lower borrowing costs,
00:06as the Iran war pushes energy prices higher and complicates the Federal Reserve's rate outlook,
00:12according to CBS News. The Fed is expected to hold its benchmark rate at 3.5% to 3.75
00:18%
00:18when policymakers meet on Wednesday, March 18, according to CME FedWatch.
00:23Rising oil and gas prices tied to the Middle East conflict have led forecasters to revise
00:29expectations for rate cuts. Higher energy costs could lift transportation, food, and utility
00:35prices while inflation remains above the Fed's 2% target. The Fed's preferred inflation gauge showed
00:40consumer prices rising in January, before attacks on Iran began. Mortgage rates have also moved higher,
00:46reaching 6.26% as of March 16, while weaker hiring adds pressure to the Fed's policy decisions.
00:53For all things money, visit Benzinga.com.
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