A top official at the Federal Reserve does not believe the US economy is endangered by escalating tensions in the Red Sea. Attacks by Yemeni Houthi rebels on cargo ships have fuelled fears of a disruption in global trade causing a sharp rise in US inflation, as the world’s largest economy gears up for a soft landing. Christopher Waller, Member of the Federal Reserve Board of Governors, remained optimistic that the situation would not harm the world’s largest economy as ships are sent on longer, alternative trade routes.
