Powell Digs In as War Forces a New Path for the Fed

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The embattled chairman raises the stakes against prosecution.Ignore the dot plot. To get John Authers’ newsletter delivered directly to your inbox, sign up here. “The implications of developments in the Middle East for the US economy are uncertain.” That assessment, impossible to challenge, was all the Federal Reserve had to say about the escalating war in the Gulf. More or less everyone agreed, and the words contributed to a hugely difficult day on world markets.