Outgoing U.S. Federal Reserve chair Powell delivers defense of Fed independence - The Hindu

Fed Chair Powell stated that the Federal Reserve is currently undergoing a 'stress test,' indicating potential challenges and difficult decisions ahead for the central bank.

Fed Chair Powell warned that politicizing the Federal Reserve would erode public trust, emphasizing the importance of the central bank's independence for effective monetary policy.

Analysis suggests that geopolitical risks in the Strait of Hormuz could lead to higher oil prices, causing higher inflation and slower growth in the US economy.