He said the Iran war has made the future path of interest rates harder to judge, adding geopolitical risk to the Federal Reserve's policy outlook.
The comments suggest energy supply disruption from the region could feed inflation pressures, complicating decisions on whether borrowing costs should stay high or rise further.
With the Fed openly divided, could the Iran crisis force an emergency interest rate hike and shock the global economy?
Beyond oil prices, how does Iran's control of a vital strait permanently alter the rules of global trade and security?
As the Hormuz closure sparks a global food crisis, what happens when millions can no longer afford to eat?