Continuing resolutions anyone?
This article makes little sense.
The Fed’s dual mandate does not include short term interest rates. It is management of inflation and unemployment.
Short term rates are a tool for that, as is Quantitative Ease and Quantitative Tightening, the last being underway for some time and forgotten. But the mandates are none of these.
The Fed’s inflation target is 2%. We are nowhere near that, and oil’s rise is sure to push the number farther away from that.
A 50 cent rise per barrel per month for 12 months in oil is a modest price move and would be 6% oil inflation for a year. If starting from $100, that would be $106. A very modest move and should it unfold, the Fed will NOT be cutting rates.