Federal Reserve chair Jerome Powell stated he will retain his position as a member of the Fed's board of governors, even after his term as chair concludes.
An energy crisis, fueled by conflict in the Middle East, has led to soaring gas prices, stalled production, and an exodus of workers from urban centers to rural hometowns.
Jamie Dimon, CEO of JPMorgan, believes the Middle East conflict could ignite a new spiral of inflation and high interest rates, potentially pushing the US into a recession.
European Central Bank (ECB) President Christine Lagarde indicated readiness to raise interest rates, even if eurozone inflation increases only temporarily.