The Federal Reserve awaits reports on the economic impact of the Middle East conflict.
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Odds of a rate hike surged as the Middle East conflict boosted oil prices.
Policymakers said they would need to remain "nimble" as they weighed the impact the war had on inflation.
The gauge released Thursday offers the Federal Reserve a snapshot of conditions leading into the Iran war.
Wall Street awaited insight into how the Middle East conflict affected the economy.
A surge in prices at the pump due to the Iran war has pushed the inflation rate to 3.3%.
Significant uptick in prices year-over-year as a result of the Middle East conflict, which began when the U.S. and Israel launched joint strikes on Iran February 28
