Interest Rates

After the Fed held rates steady again, Kevin Warsh's press conference convinced many that the next rates move will be an increase.

A string of Fed officials have warned in recent weeks that the central bank can no longer signal that rate cuts are still likely to be their next policy move.

Austan Goolsbee sees ongoing price pressures beyond the Iran war's impact on energy costs, and thinks the Fed shouldn't rule out a rate hike.

The 8-to-4 vote marked the first time since October 1992 that four officials dissented against an FOMC decision.

"While it's true that inflation is less problematic than it was some years ago, hard-working Americans are no doubt feeling it. I think that means a regime change in the conduct of policy."

Some officials worry that the war could hurt the labor market and warrant lower interest rates; others see a risk to inflation that might warrant rate increases.