Jessica Mendoza

And it reaches for its usual playbook — hiking interest rates.

An important number the Fed usually looks at to make that decision is a stripped down metric called core inflation.

That figure includes the cost of medication, housing, apparel, everything that isn't gas or food prices, which tend to be more volatile.

But right now, remember, we're in a situation where those gas prices are what's driving inflation.

In a foreign war, that's not the kind of problem the Fed can solve with a rate hike.

Today, at his first press conference as the new Fed chair, Kevin Warsh stayed the course, keeping interest rates unchanged.

He also acknowledged the impact of the war in Iran on what's happening in the U.S.

economy.

This comes just a few days after President Trump announced what he described as a peace deal with Iran.

Markets reacted quickly.

Oil prices fell on hopes the crisis might be over.

While gas prices are still higher than before the war, they've started edging down.

Consumer sentiment has also started to recover a little bit, though it's still low.

If this deal holds and the Strait does reopen, how quickly could relief show up for Americans?

If so many people feel like the economy is bad, does it matter that the economy is actually pretty good?

Harriet, when you step back from all these indicators, what is the best way to describe the mood of this economy?

And maybe you'll just have to get used to $7 for Dubai chocolate.

Was it at least worth it?

Sometimes it just is.

You know, you want to enjoy it.