The Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation, a move that would put the central bank at odds with Donald Trump’s support for a cut.

An increase in the Fed’s rate, currently about 3.6%, isn’t guaranteed because Fed Chair Kevin Warsh doesn’t provide the signals about next moves that his predecessors did. Still, most analysts and economists expect a hike after a speech two weeks ago at the Fed’s annual conference in Jackson Hole, Wyoming, in which Warsh argued that the Fed had not yet achieved its goal of putting inflation in check.

A rate hike would throw another sharp shift into a volatile period for the economy and financial markets. As recently as March, the Fed had forecast it would cut its rate once this year. But with the Iran war flaring up again and causing sharp increases in oil and gas prices, inflation is likely to remain higher than the Fed’s 2% target for even longer.