Fed's Cook (voter) says uncertainty is elevated and balance of risks are largely on net in balance, adds sees inflation risk greater now as a result of the war in Iran and that it could have a substantial effect on inflation

Fed's Cook highlights increased uncertainty and assesses that inflation risks are now more significant due to the conflict in Iran. This statement indicates a potential shift in the Fed's outlook, suggesting that inflation may become a more pressing concern, which could lead to tighter monetary policy. Traders should consider how this might influence the USD, fixed income, and energy markets as expectations adjust to these risks.