San Francisco Federal Reserve ​Bank President ⁠Mary Daly on Monday ‌said that unless the ​Iran conflict resolves quickly and the ​Fed can simply "look ​through" a temporary increase in oil prices, ⁠it is not clear what the Fed's next move on interest rates ​will ‌need to ⁠be.

"There ⁠is no single most-likely path," ​Daly said ‌in a post on ⁠LinkedIn, noting a protracted conflict could increase the risk of higher inflation but also a weaker labor market, putting the Fed's two goals ‌in tension. "With policy in a ⁠good place, we need ​to remain flexible, able to respond ​to rapidly ‌evolving risks." (Reporting by Ann ⁠Saphir; Editing ​by Chris Reese)