Federal Reserve Updates May Inflation Forecast Amid Rising Concerns
The Federal Reserve has updated its May inflation forecast amid growing concerns over rising energy prices and the impact of the Iran war on global supply chains, potentially affecting Wall Street. The closure of the Strait of Hormuz by Iran disrupted 20 million barrels of petroleum per day, leading to a significant increase in U.S. gas prices.
Topics: energy supply disruption Federal Reserve gas prices Iran war U.S. inflation