Video: Surging Oil Prices Limit Prospects for Interest Rate Cuts

US President Donald Trump is known to strongly desire a reduction in the Federal Reserve’s benchmark interest rate. However, his hopes appear dashed amid the raging war with Iran in the Middle East. The surge in oil prices resulting from this conflict is feared to drive up inflation, leading markets to anticipate that the Federal Reserve will postpone interest rate cuts for the time being. Consequently, inflationary pressures from energy sources are likely to make the US central bank remain cautious in determining future interest rate policies.