Can The Federal Courts Compel Arbitration?

It is not an uncommon situation. Two parties have a straightforward contract dispute. One party wants to arbitrate; the other would rather be in court. The second party, despite a provision in the parties’ agreement that calls for arbitration in the first party’s backyard, commences a lawsuit, in a distant jurisdiction, for breach of contract. In response, the party desiring arbitration files a petition in federal court to compel arbitration. Will the federal court exercise jurisdiction over the petition?