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Financial Mirror1 Aug 2026

Fed ‘hostage’ to a war thousands of miles away

Fed ‘hostage’ to a war thousands of miles away

The Federal Reserve’s decision to hold interest rates steady at 3.5% to 3.75% was shaped less by economic data than by a conflict thousands of miles from Washington, according to Nigel Green, CEO of leading independent financial advisory deVere Group.

The 9-3 vote, announced by Fed Chair Kevin Warsh on Wednesday, came hours after Iran fired missiles at American forces in the Middle East and oil prices jumped sharply, with Brent crude and West Texas Intermediate both surging in the same session....

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