1738 ET - Rapid developments in Iran have whipsawed expectations for how the Fed will set interest rates over the rest of the year. San Francisco Fed President Mary Daly says that amid the elevated economic uncertainty, the central bank shouldn't provide a false sense of assurance around its likely next moves. "There is no single most-likely path," Daly writes in a social-media post. "Offering too much forward guidance in an uncertain world risks conveying a false sense of certainty, reducing rather than improving transparency, and making it harder for the public to clearly predict how the FOMC will react." (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

March 23, 2026 17:38 ET (21:38 GMT)

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