Federal Reserve Decision Looms as Rate Hike Fears Intensify

The Federal Reserve's interest rate policy is set to be the main focus for Wall Street this week. The central bank will conclude its two-day meeting on Wednesday and may raise its benchmark interest rate in an effort to combat stubbornly high inflation.

High oil prices, fueled by the US-Iran conflict, have contributed to higher gasoline costs and slower wage growth, putting pressure on household budgets. This has led some experts to predict that at least one rate hike is likely before the end of the year, which would make borrowing more difficult and slow economic growth.

However, President Donald Trump has been pushing for lower interest rates, arguing that this could boost the economy but also exacerbate inflationary pressures. The Fed's decision on Wednesday will have significant implications for investors and consumers alike.