The US Federal Reserve raised its inflation forecast on Wednesday (Mar 18) while keeping interest rates unchanged, citing an uncertain economic outlook amid the war in Iran. Speaking to CNA’s Asia First, David Wessel of the Brookings Institution says the Fed is facing a difficult balancing act, as rising oil prices are expected to push inflation higher while also slowing economic growth, leaving policymakers “kind of stuck where they are”. He notes that although policymakers are still

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