US Fed expected to keep rates steady as Iran war impact looms

The central bank's rate-setting Federal Open Market Committee (FOMC) began its gathering at 10:30 am Eastern time (14:30 GMT), a central bank spokesperson said. The meeting comes as the Fed battles stubbornly high inflation and weak demand in the US labor market, with its dual mandates potentially at odds with one another. The US-Israel war on Iran, launched on February 28, is also expected to have major economic implications, with oil prices surging and supply chains disrupted. Rising oil prices...