At a divided Fed, doves likely to rule the roost and push for more rate cuts this year
The Federal Reserve has separated into two distinct wings on whether to cut U.S. interest rates this year — and the so-called doves appear to be gai...
Last updated: 2026-03-04 00:22:12 ET
Pulse AI Brief
Updated Mar 4, 2026 12:01 AM ET
Minneapolis Fed President Neel Kashkari said one or two rate cuts remain possible in 2024 but explicitly flagged that the Middle East war could justify an extended pause, drawing a direct parallel to the inflationary cost shock that followed Russia's invasion of Ukraine. U.S. average gas prices simultaneously recorded their largest single-day jump in four years.
Kashkari's comments tighten the Fed's already narrow path: a war-driven energy shock could reignite CPI just as the central bank was preparing to ease, forcing rate-sensitive sectors — housing, utilities, REITs — to reprice. Rate futures will likely shift to price in a longer hold.
The Fed faces a stagflationary trap: a war-induced supply shock raises prices while simultaneously threatening growth, limiting the policy toolkit available to cushion any economic slowdown.
The Federal Reserve has separated into two distinct wings on whether to cut U.S. interest rates this year — and the so-called doves appear to be gai...
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Federal jury awards University of Idaho professor $10 million in TikTok defamation case after user spread false claims linking her to student murders.
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