Energy prices likely to peak and decline over time
New York Fed President John Williams said he does not expect a sustained surge in energy prices despite the Middle East conflict.
The markets anticipate oil prices to decrease over the next six to 12 months, which Williams considers a reasonable baseline.
Williams also discussed the potential rate hike at the upcoming Federal Open Market Committee meeting, stating that the analysis process has not begun.
The Fed had previously held its interest rate target range steady at 3.5% to 3.75% and forecasted rate increases this year due to above-target inflation.