Fed Debates Rate Cuts While Geopolitical Tensions Roil Markets

Fed Chairman Jerome Powell wants to cut interest rates this year, but some Fed officials suggest rate cuts may not happen as soon as expected.

Geopolitical tensions, especially with Iran, are worrying markets and led to a big stock market sell-off.

Oil prices are rising, adding pressure to gas prices. Interest rates fell as traders sought the safety of bonds over risky stocks.

Inflation remains sticky and above the Fed's 2% target. Fed officials want clear evidence inflation is declining before cutting rates.

Some Fed presidents warn against cutting rates too soon and risk inflation reemerging. Key decliners were Paramount, AMD and Nvidia. Gainers included GE Aerospace and Lockheed Martin.