Fed's Williams says too soon to gauge Iran war impact, US resilient to oil shocks
By Howard Schneider
WASHINGTON, March 3 (Reuters) - It is too soon to gauge the impact of the war with Iran on U.S. inflation and growth, but the American economy is far less dependent on imported oil than it has been and has proved resilient to energy price shocks, New York Fed President John Williams said on Tuesday.
"Transmission is really through some of these asset prices and financial market reactions, which so far have been reasonably muted," Williams told reporters after speaking to a conference hosted by America's Credit Unions in Washington.
"Nobody can be sure how long this will last or the broader implications ... Past experience has shown that movements in oil prices that we've seen so far don't fundamentally shift the economy, but we'll wait and see."
