Buenos Aires, March 17 (NA) -- The United States Federal Reserve (the Fed) will meet again this Wednesday, and all eyes will be on its decision regarding the interest rate, amid the escalation of the conflict in the Middle East. According to the Argentine News Agency, the Fed will hold its second meeting of the year, with the context of the war between the United States, Israel, and Iran making a percentage cut in the benchmark interest rate difficult. The market expects it to remain unchanged: the rise in oil prices, the closure of the Strait of Hormuz (through which nearly 20% of the world's crude oil circulates), and the release of reserve barrels are putting pressure on global inflation, which could translate into slower economic growth. Jerome Powell. Photo: Agency NA / Xinhua (Hu Yousong) The latest revision Currently, that figure stands at 3.5%-3.75%. At the last meeting, the Federal Open Market Committee decided to keep the rate in that range: the decision was supported by 10 of the 12 members. IP "After reducing the rate by 75 basis points over our previous three meetings, we believe the current stance of monetary policy is appropriate to foster progress toward maximum employment as well as our 2% inflation goal," said Jerome Powell, Fed chairman. Powell's term ends in May, and U.S. President Donald Trump announced that Kevin Warsh will replace him after having had several frictions with the current head.
