(March 27): US Federal Reserve (Fed) governor Lisa Cook said the Iran war has shifted the balance of risks for now, leaving inflation as a bigger concern for policymakers than employment. “I would argue that the inflation risk is greater right now as a result of the Iran war,” Cook said on Thursday while answering questions after a speech in New Haven, Connecticut. Cook said tariffs had already moved inflation away from the Fed’s target, and that the Middle East situation could potentially have a substantial effect also. “We could be at this for much longer than we anticipated,” Cook said. “So I think right now, the balance of risks has shifted more to inflation.”

Source: The Edge Markets March 26, 2026 23:36 UTC