PANews reported on May 1 that, according to Jinshi, Federal Reserve Chairman Hamak stated that given the current economic outlook, the Fed's "clearly accommodative stance" is no longer appropriate, and this broad view is the "cornerstone" of the Fed's decision-making process.

Furthermore, Federal Reserve Chairman Kashkari stated that even in a "favorable scenario" of the Strait of Hormuz reopening quickly, inflation would remain high, requiring interest rates to remain unchanged for an extended period. A sufficiently large price shock could jeopardize inflation expectations, potentially necessitating a series of rate hikes by the Fed to maintain its credibility in upholding its 2% inflation target. A prolonged closure of the Strait could also jeopardize inflation expectations due to price shocks, requiring a "strong policy response."