How $100 Oil Could Scramble the Fed’s Fight Against Inflation

What rising oil prices mean for the Fed

Crude oil has slipped below the 10-month high it hit on Tuesday. But analysts say the monthslong rally that has sent prices close to $100 a barrel isn’t over, posing a big risk for global growth and complicating central bankers’ efforts to tame inflation.

Expect Jay Powell to field plenty of questions about oil prices at his news conference on Wednesday. The crude rally has become a wild card for the…