Fed’s Powell says no need to hike interest rates now — officials should look past higher energy prices
By Taylor Herzlich
Published on March 30, 2026.
Federal Reserve Chair Jerome Powell has stated that there is no need to raise interest rates now due to rising energy prices caused by the Iran war. Speaking to Harvard University students, Powell suggested that officials should instead focus on stable prices and low unemployment. His comments calmed fears among traders, with odds of an interest-rate hike by December dropping to 2.2%. He also suggested that the current target range of 3.5% to 3.75% is a good place for the Fed to remain. However, he did not comment on the future of Powell's successor, former Fed Governor Kevin Warsh.
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