War That Won't End Is Complicating the Fed's Next Move

Federal Reserve Governor Michael Barr said the central bank should raise interest rates this month if incoming data doesn’t show inflation is easing. His comments underscore how policy makers are weighing how long they can treat inflation effects from the Iran war as temporary. Rising oil prices are adding pressure to that decision, since energy costs can keep inflation sticky even if other measures improve. The article frames the “war that won’t end” as a persistent complicating factor for the Fed’s next move, making it harder to gauge whether recent inflation changes are durable or just a short-term response to geopolitical shocks.