A.M. Edition for March 22. The Federal Reserve faces a balancing act ahead of its next interest-rate decision today, as signs of lingering inflation collide with the prospect that recent bank instability could weaken the economy and call for lower rates. WSJ chief economics commentator Greg Ip breaks down where that leaves policy makers. Plus, U.K. inflation unexpectedly surges amid the highest food prices in decades. Luke Vargas hosts.

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