RT by @JenniferJJacobs: RT by @JenniferJJacobs: CBS News’ @RichardEscobedo: “A quarter-point rate hike does not reopen the Strait of Hormuz.
And so, I wonder how you think the smaller rate hikes will be effective when it can't necessarily address the energy supply side of inflationary pressures?” Fed Chair Kevin Warsh acknowledged the central bank cannot directly affect oil or other individual prices but added: “What we can do and will do is ensure that any change in relative prices don’t broaden out, don’t have second and third-order effects in the economy.”
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