Expert discusses Wednesday’s Fed decision

SOUTH BEND, IND-- The Federal Reserve kept interest rates unchanged on Wednesday in its first meeting since the war in Iran, which has spiked gas prices and led to inflation concerns.

"In the near-term, energy prices will push up overall inflation but it's too soon to know the scope and duration of the potential effects on the economy," said Powell.

Fed Chair Jerome Powell said they would continue to watch for impacts to the Fed's dual mandate.

This is the second consecutive time it has chosen to maintain interest rates at current levels since the outset of 2026.

ABC57's Jordan Tolbert spoke with Russell Rhoads, PHD Clinical Associate Professor of Finance at the IU Kelley School of Business before the Fed announcement on Wednesday.