Fed Weighs Rate Hike as Iran Conflict Drags On

The Federal Reserve has been hesitant to raise interest rates this year due to concerns about the impact of tariffs and the ongoing conflict with Iran on inflation. However, as the war drags on and oil prices remain high, it's becoming increasingly difficult for officials to justify their wait-and-see approach.

Fed Chair Kevin Warsh has not explicitly stated whether he would support a rate increase at the next meeting, scheduled for September 15-16, but hinted that the central bank might have 'work to do' if underlying inflation trends don't improve.