For Federal Reserve policymakers, the Iran War creates a familiar but uncomfortable dilemma: inflation risks driven by energy shocks at the same time economic growth may be weakening. If oil prices remain elevated and supply disruptions persist, Fed officials could find themselves with few viable options: holding interest rates higher to contain prices even as the job market softens. The updated forecasts or “dot plot” released after the March 17-18 meeting of the Federal Open Market Committee may offer ...