Prolonged Iran conflict poses stability risks – Barr and Woods
Fed governor and UK’s PRA chief also make renewed case for central bank independence
Prolonged conflict in the Middle East could push up inflation for longer and place additional pressure on job markets globally, Michael Barr has said.
At an event on May 5 by Magdalen College in Oxford, the Federal Reserve governor said elevated global energy prices could “bleed over” into other goods and services. “The longer they stay higher, the more pressure it puts on inflation, and the more it’s likely to increase stresses in the labour market globally, [although] more seriously in Europe
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