PANews reported on April 16th that, according to Jinshi News, Federal Reserve Chairman Mossaleem stated on Wednesday that high oil prices could push core inflation nearly one percentage point above the Fed's 2% target for the remainder of the year, potentially requiring the Fed to maintain interest rates. Mossaleem said, "We are likely to see some transmission of oil prices to core inflation," and that by the end of the year, the underlying measure of price increases will be "slightly below 3%, perhaps around 3%," with further upside risks. Mossaleem said the Fed is likely to keep its policy rate in the current 3.50%-3.75% range "for some time," while monitoring inflation, employment, and economic data in the coming months—a view shared by many of his colleagues. The impact of last year's tariff increases may be fading this quarter, and housing price inflation is also weakening. With rising oil prices, inflation in a range of service sectors remains high, and he would be open to raising interest rates if inflation begins to rise and potentially boost inflation expectations. Musalem also stated that the oil market is experiencing its "third negative supply shock in 12 months," and coupled with rising tariffs and stricter immigration regulations, the inflation outlook and the job market are at risk, potentially impacting economic growth. He believes economic growth will slow this year, but will still remain between 1.5% and 2%.