The Fed Can Only Watch Iran’s Energy Shock — and Wait

As if tariff chaos, the uncertain impacts of AI and threats to its independence weren’t enough, the US Federal Reserve now faces a new challenge: a potentially epic energy-supply disruption, precipitated by the war in Iran.

What to do? I think the Fed should, and will, take no action until the magnitude and duration of the shock and its effects are clearer — and that will take a considerable amount of time, even acknowledging the current fragile ceasefire.