Washington —
The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.
President Donald Trump’s war on Iran has sent oil prices skyrocketing, with WTI, the US crude benchmark, briefly reaching $120 last week, threatening to raise the cost of almost everything Americans buy. At the same time, those higher energy costs could squeeze businesses and households, slowing hiring and stalling economic growth.
That twin threat of higher inflation and a weakening job market