Ghalibaf: Fed Interest Rate Moves Won't Reopen Strait of Hormuz

Iranian Parliament Speaker Mohammad Bagher Ghalibaf dismissed the impact of interest rate changes by the US Federal Reserve, stating that it would not affect the situation in the Strait of Hormuz. He questioned whether raising interest rates could reopen the Strait or increase oil production.

Ghalibaf made his comments on social media platform X, saying 'Let's see if a hike could open SOH or produce a single barrel.'

He argued that neither increasing nor decreasing interest rates can stabilize inflation expectations in the US, which he attributed to a supply shock caused by the closure of key energy routes.