5/1 - JMN IN-DEPTH - Jeff Monosso, FOX News

And the Fed deciding it is best to keep interest rates steady as it waits for some clarity on how long the Iran war will last and how bad the fallout is. As Fed Chair Jerome Powell announces, he will remain on the board, just not as its chair. Jeff Manasso from Fox News joins us now. Good morning, Jeff. Hey, good morning to you. So gas prices right now, 439 per gallon, 439 per gallon. That would be a really expensive tank of gas. We wouldn't be driving anymore. It's about 10 cents cheaper in Florida. What's that chairman, Jerome Powell saying this week. that the Iran war risks pushing inflation higher and lowering economic growth. The longer it continues to strangle the global energy market. Jerome Powell said that the longer the Strait of Hormuz, the world's most critical waterway for global oil flows remains effectively closed. The stronger the war's impact is going to be on the economy, higher gas prices, groceries, and consumer goods, and less spending power. for American families. And as Jerome Powell and President Trump continued to butt heads over interest rates, the Fed this week, as you mentioned, they voted to keep rates unchanged. The president said that Americans should expect to pay more for a little while. He also said, he also acknowledged that prices could stay the same or even rise through the 2026 midterm elections due to global tensions, humanity, Iran war, but that prices will drop below $3 as soon as the war ends. Yesterday, the White House, the president also said the country is doing really well. And that despite a military operation, he doesn't call it a war instead a military operation, that Iran is dying to make a deal, but it cannot have a nuclear weapon that they want to make a deal. He also highlighted the highs in the stock market yesterday closing at about $50,000. Jeff Manasso, Fox News Radio, thanks so much.