Janet Yellen Keeps Fed Cut Hopes Alive As Iran War Roils Markets— 'If I Had To Write One Thing Down...'

Former U.S. Treasury Secretary Janet Yellen said she still sees the possibility of one Federal Reserve rate cut later this year, even as the Iran war fuels an oil-driven inflation shock that is complicating the central bank's outlook.
Speaking at the HSBC Global Investment Summit in Hong Kong on Wednesday, Yellen said the Fed remains open-minded despite rising near-term inflation expectations.
“If I had to write one thing down on a piece of paper… I suppose my guess would be that maybe there would be a cut later in the year,” Yellen said, as reported by Reuters.
Oil Shock Clouds Inflation Outlook
Yellen warned that the over six-week Iran conflict was creating a broad supply shock across the global economy.
"This is really a broad supply shock," she said, citing the impact on gasoline, LN