BlockBeats News, on May 25, Eamonn Sheridan, an analyst at the US financial website investinglive, pointed out that the minutes of the Federal Reserve's April meeting showed a significant shift in the Fed's stance. The previous statement emphasizing "flexible and rapid" responses based on economic data has been replaced by new wording: persistently high inflation, coupled with the uncertainty of the economic impact of the ongoing Iran conflict, may mean that policy needs to remain paused for longer than previously expected.

The inflation situation facing new Chairman Worsh is not simply an energy issue. Officials noted that high fuel costs are gradually being passed on to shipping fee rates, air ticket prices, and fertilizer costs, spreading inflationary pressures to broader areas. This transmission effect makes inflation harder to be seen as a temporary factor, and also gives hawkish officials more sustained grounds to advocate for maintaining high interest rates or even raising them.

The market currently expects that if inflation fails to decline, the Federal Reserve may resume interest rate hikes by the end of 2026 or early 2027. Worsh himself favors interest rate cuts, but this stance creates a potential conflict with a committee that is clearly leaning towards a more hawkish position; as Worsh's leadership style becomes more apparent, this dynamic could exacerbate volatility in FOMC internal communications.