Fed’s Kashkari: Iran War Disruptions Lasting Longer Than Expected

Kashkari is tying a geopolitical shock to the framework that sets the baseline for policy, and the notable part is the direction of travel: a conflict-driven disruption feeding into how he thinks about the neutral rate, not just a temporary price blip. That matters for anyone pricing the cost of capital across risk assets, crypto included, because the neutral rate is the anchor under every discount model. He gave no size or direction, so the open question is whether this revision hardens into a broader shift among policymakers or stays a personal adjustment.