Forex
Federal Reserve Weighs Rate Hike Amid High Inflation Fears
The Federal Reserve's interest rate policy will be under scrutiny this week as it closes out its two-day meeting on Wednesday.
A potential rate hike is seen as a way to tame stubbornly high inflation, which has held above 3% throughout the year.
Higher oil prices have fueled inflation, with the U.S. war with Iran contributing to the surge in global oil costs.
The Fed has been holding its benchmark interest rate steady while monitoring inflation, which is well above its target rate of 2%.