WASHINGTON — The U.S. economy grew at its fastest pace in a year in the third quarter, shrugging off higher oil prices stemming from the conflict in the Middle East as consumers maintained robust spending and businesses doubled down on investment in AI. The better-than-expected increase in gross domestic product last quarter reported by the Commerce Department on Thursday was in stark contrast to households' downbeat assessment of the economy, reflected in President Donald Trump's record-low approval ratings and deterioration in consumer sentiment. The advance GDP report was published less than a week before Tuesday's midterm elections, which will determine control of Congress. Economists said the strong growth, together with other data on Thursday showing inflation accelerating and broadening out in September, bolstered the argument for the Federal Reserve to raise interest rates in December. The U.S. central bank on Wednesday left its benchmark overnight interest rate in the 3.75 percent-4.00 percent range while acknowledging that inflation "remains elevated." "The consequences of an