The Middle East conflict and potential inflation could impact the Federal Reserve's interest-rate cuts, potentially delaying them longer than expected due to the impact on the economy. This could impact potential future Fed chair Kevin Warsh, who is expected to be chosen by President Donald Trump for the position starting in June. Federal Reserve Bank of Minneapolis President Neel Kashkari, who had previously predicted a one interest rate cut this year, said the attacks on Iran made him less certain about this. Other Fed officials have also warned that inflation remains too high to consider cutting rates short-term. The price of gasoline in the United States has risen by 11 cents to $3.11 a gallon, the largest one-day increase since Hurricane Katrina in 2005. The Federal Open Market Committee voted 10-2 to keep interest rates steady at 3.50% to 3.75%.