P.M. Edition for Mar. 18. At its meeting that concluded today, the Federal Reserve held interest rates steady. Journal economics reporter Matt Grossman discusses how officials preserved a path to cutting rates this year, despite the risk that the war with Iran might contribute to inflation. Plus, U.S. stocks fall after Fed Chair Jerome Powell says rising oil prices could hurt U.S. growth, while oil prices rise on news of attacks on key energy infrastructure. And a U.S. Marine Corps unit is expected to arrive in the Middle East next week. We hear from WSJ national security reporter Lara Seligman about how those troops could try to reopen the Strait of Hormuz to get oil flowing in the Middle East again. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.