Washington (AFP) – The impact of the conflict in Ukraine on the US economy is “highly uncertain,” and the central bank will need to adjust quickly to ensure the post-pandemic recovery continues, Federal Reserve Chair Jerome Powell said Wednesday. With prices rising at their fastest pace in four decades and oil soaring to around $108 a barrel due to the war, the Fed chief repeated that policymakers are ready to raise interest rates to tamp down inflation. However, Powell said the central bank will “proceed carefully,” and he favors increasing the benchmark borrowing rate by a modest quarter-poi…