Briefly

WASHINGTON Ever since Kevin Warsh was nominated by President Trump in late January to lead the Federal Reserve, a question has lingered: Will he seek to raise interest rates to tame inflation or cut them as Trump has long demanded? On Wednesday, Warsh may provide the first hints of an answer when he oversees his first Fed policy meeting as chair.

Bond markets, which can swing sharply on a chair's pronouncements, will be watching particularly closely for any signs of which way he leans. Still, Warsh will likely aim for a neutral approach, economists say, largely because he is taking over the Fed at a challenging time.

Even with a deal to reopen the Strait of Hormuz, it could take weeks or months for oil to fully flow

FRANKFURT, Germany The tentative agreement to end the war in Iran and reopen the Strait of Hormuz would be good news for the global economy. But oil won't simply start flowing through the key shipping artery the way it did before the war.

Then, it carried a fifth of the world's crude.

Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need time to get oil moving again. And ship captains may take their time deciding it's safe and that the threat of attack from Iran has truly receded.

Higher prices for gas, groceries and flights will likely outlast the Iran war

NEW YORK Economists and industry analysts say that even after oil starts flowing again from the Middle East, it could take awhile for the Iran war's effects on consumer prices to recede.

That's because the fighting disrupted not only fuel supplies but also the supply chains for fertilizer, food and even footwear. Experts say that as long as business costs are elevated, customer prices are likely to be too.

Gasoline, groceries, airline tickets and other items have all gotten more expensive during the war.