Minneapolis Fed Pres. Kashkari: We Need To Be Open-Minded About Where Interest Rates Are Going Because of the Uncertainty in the Middle East

RUSH EXCERPT:
KASHKARI: "I think we all need to be open minded about where interest rates are going because there’s so much uncertainty coming out of the Middle East. I think I’m very focused many of my colleagues or what happens in Iran. What how long the Strait of Hormuz is closed and the longer it’s closed. The higher likely energy prices and fertilizer prices will go the bigger impact it’s going to have on inflation here in America, and then we at the Fed have to take that on board, and so I was simply saying that there’s so much uncertainty about the outlook in the Middle East right now, I don’t feel comfortable signaling that are rate cut in the cards. Here we might in the in worse and areas we might have to go the other direction"