May 15 marks the final day of Jerome Powell's second term as Fed chair and the presumed beginning of Kevin Warsh's tenure in the lead position. Warsh, a former voting member of the Federal Open Market Committee (FOMC),

"The Iran shock has upended the inflation environment," Minneapolis Fed President Neel Kashkari said Wednesday, noting that before the Iran war he had "some confidence" that inflation was moving toward the Federal Reserve's 2% target.

The CBN says uncoordinated and expansionary fiscal actions by state governments could undermine Nigeria’s transition to an inflation-targeting monetary policy framework.

Forbes contributors publish independent expert analyses and insights. Global Investor and educator focused on strategies to build wealth. Federal Reserve Chair Jerome Powell sent equity markets higher last week with a subtle but important shift in tone.

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The inflation targeting framework, which has been in place since 2016, has been effective in managing volatility in price gains even during periods of supply shocks triggered by geopolitical events, the people said. The policy is reviewed every five years, with the current framework valid until March 2026.

The increase largely reflects a sharp jump in energy prices since the U.S. and Israel launched their military operation against Iran.

According to Federal Reserve minutes released on Wednesday, officials are predicting that interest rates will go higher if inflation refuses to fall back to the Fed’s 2% target, after fresh data showed prices rising again and markets started treating another hike as a real risk.