Roundup: U.S. Fed hints at keeping interest rates steady in short term amid war with Iran
WASHINGTON, March 31 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell has hinted that the central bank might keep interest rates steady in the short run, as the U.S.-Israeli war with Iran stretches into the fifth week.
"Monetary policy works with long and variable lags, famously, and so, by the time the effects of a tightening in monetary policy takes effect, the oil price shock is probably long gone," Powel