Iranian Parliament Speaker Ghalibaf:

Straits Taylor Rule:

i = r + π + 1.5(π−π) + 0.5(y−y) + α(SOH−SOH) + β(BEM−BEM), α,β > 0

Let’s see if a hike could open the Strait of Hormuz or produce a single barrel :)

You can’t 25bp a chokepoint and r isn’t neutral. It’s SOH risk premium, and We set it.

Stay unanchored !