CNN 5 Things Fed Holds Rates, Trump Officials Grilled, Missing College Student and more
Mar 18, 2026
A rundown of the Fed holding interest rates and what policymakers say about economic uncertainty. Reports on strikes affecting regional energy infrastructure and denials surrounding those attacks. Coverage of a heated Capitol Hill hearing over recent military decisions. A tense confirmation hearing for the next homeland security leader. A family's plea after a college student goes missing abroad.
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Fed Pauses Rates Amid Middle East Uncertainty
- The Federal Reserve paused interest rate hikes, holding rates at 3.5 to 3.75 percent to weigh economic risks from the war with Iran.
- Fed Chair Jerome Powell highlighted near-term inflation risks from higher energy prices while signaling uncertainty about the conflict's longer economic impact.
Energy Market Shock From Attacks And Strait Closure
- U.S. officials denied striking Iranian gas fields and attributed the attack to Israel while regional energy sites in Qatar and Saudi Arabia were also targeted.
- The strikes and Iran's effective closure of the Strait of Hormuz spiked oil and gas prices and disrupted about 20 percent of global oil traffic.
White House Waives Jones Act To Boost Energy Supply
- The White House temporarily waived the Jones Act for 60 days to ease domestic energy transport and blunt price spikes.
- This allows foreign-flagged ships to carry oil, gas, and commodities between U.S. ports to increase supply flexibility.