A top Federal Reserve official said Monday that an interest rate hike could be necessary if inflation remains persistently above the central bank's 2 percent target—the latest sign that some policymakers are shifting away from a bias toward cutting borrowing costs, even as the Iran war continues to roil global energy markets . The comments from Beth Hammack, president of the Federal Reserve Bank of Cleveland, come as the war enters its sixth week, sending gas prices surging nationwide and

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