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AXIOS (Courtenay Brown) - Powell: Fed yet to decide on whether to "look through" war's impact

Federal Reserve chair Jerome Powell said the Fed is not yet at the moment when it needs to decide whether to "look through" the Iran war energy shock. What they're saying: "It's something we will eventually, maybe, face the question of what to do here. We're not really facing it yet because we don't know what the economic effects will be," Powell told introductory economics students at Harvard University on Monday morning. - "We feel like our policy is in a good place for us to wait and see how that turns out." Powell said that the Fed has to consider the economic backdrop against which the shock is occurring. "The broader context is ... we've been coming down close to 2% [inflation], post-pandemic, but we've never actually gotten and…

Federal Reserve chair Jerome Powell said the Fed is not yet at the moment when it needs to decide whether to "look through" the Iran war energy shock. What they're saying: "It's something we will eventually, maybe, face the question of what to do here. We're not really facing it yet because we don't know what the economic effects will be," Powell told introductory economics students at Harvard University on Monday morning. - "We feel like our policy is in a good place for us to wait and see how that turns out." Powell said that the Fed has to consider the economic backdrop against which the shock is occurring. "The broader context is ... we've been coming down close to 2% [inflation], post-pandemic, but we've never actually gotten and…Open