Federal Reserve Musalem: Iran War Energy Impact Will Fully Drive Inflation

St. Louis Federal Reserve President Musalem said on Wednesday that the energy shock related to the war with Iran will definitely impact overall inflation, and may also create pressure on core prices. Musalem said at an event hosted by the Washington Institute for American Enterprise, "I expect that the rise in commodity prices will impact overall inflation one-to-one, and there will be a period of high overall inflation." He added, "Core inflation will also be affected to a certain extent, and I will closely monitor the extent of transmission and their correlation."