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Federal Reserve officials are set to weigh a potential interest rate increase at a meeting described as hotly debated, with investors placing one-in-three odds on a hike to combat an inflation surge the source traces to the war in Iran.
The inflation trigger The war in Iran is the single named cause of the inflationary jolt now confronting the Fed.
The conflict has driven price pressure to a level that investors and policymakers are treating as worth responding to.
Whether the central bank acts will depend on how officials assess the staying power of a shock that originated in a military conflict rather than in domestic demand.
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