Due to the conflict between the US and Iran, which led to rising oil prices, the risk of inflation has re-emerged in the US, and the possibility of raising interest rates remains relevant.

In the FOMC meeting protocols for March, the Federal Reserve indicated that both rate cuts and hikes are already priced in, and San Francisco Fed President Mary Daly made important statements.
In an interview with Reuters, Mary Daly suggested that high inflation could persist, and stated that high inflation figures for March would not surprise anyone.
Daly said that the US was actually facing an inflation problem even before the recent oil shocks.
He said that after oil crises, fighting inflation became even more important and would take more time.
At this point, Daly states that the oil shock caused by the war with Iran has delayed the process of bringing inflation back to the Fed’s 2% target and could put the Fed in a wait-and-see position regarding interest rates.
However, he added that if the conflict with Iran is quickly resolved and oil prices fall, a rate cut cannot be ruled out.