The Federal Reserve is widely expected to keep interest rates unchanged at its meeting this week, as inflation has rebounded with CPI at 4.2% and PCE at 3.8% alongside steady employment. One expert said cutting rates now would be “like throwing oil on the fire” of inflation. New chair Kevin Warsh has emphasized monetary-policy independence, while ongoing geopolitical conflict has weighed on expectations for easing. The report says oil is among the affected assets and links the inflation pickup primarily to higher energy prices tied to crude oil.