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The conflict in the Middle East has left the Federal Reserve braced for higher inflation, upending expectations about if officials will restart interest rate cuts.
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Some policymakers saw a "strong case" for a hike — but they were in the minority.
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Odds for a reduction jumped Wednesday morning, hitting about 43%, according to the CME Group.
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Policymakers said they would need to remain "nimble" as they weighed the impact the war had on inflation.
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The Iran cease-fire may be the ‘green light' the Fed needs.
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Federal Reserve Governor Stephen Miran spoke Monday on CNBC's "Squawk on the Street."
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