Snapshot 6:Thu, Mar 19, 2026 1:05:35 PM GMT last edited by ArthursSeat22

Fed Holds Rates Steady Amid Iran Oil Shock

Are steady rates a responsible data-driven decision or a reckless betrayal of struggling Americans?

Published 1 day ago

Fed Holds Rates Steady Amid Iran Oil Shock

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Above: Federal Reserve Chair Jerome Powell speaks during a press conference in Washington, D.C. on March 18. Image credit: Anna Moneymaker/Getty Images

The Spin

Holding rates steady at 3.5% to 3.75% is the right call amid the uncertainty in the Middle East and rising oil prices. Cutting now would be reckless, especially given that core PCE inflation is already running at 3% and near-term inflation expectations are rising. The Fed is doing exactly what a responsible central bank should — waiting for the data before making any commitments.

Federal Reserve Board Federal Reserve Board

The Fed's decision to once again defy U.S. President Donald Trump's reasonable demand for rate cuts is a slap in the face to everyday Americans who need relief now. This latest insult is yet further proof that Powell has politicized the institution and can't leave soon enough. Keeping rates frozen in this manner while working people continue to struggle is exactly why the Fed has lost credibility.

Nick Sortor on X

Eric Daugherty on X

Metaculus Prediction

There is a 2.5% chance that Jerome Powell will cease to be Chair of the Federal Reserve Board of Governors before his term is up, according to the Metaculus prediction community.