Fed is likely to raise interest rates
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An 85% majority in a Reuters poll now forecast a quarter-point increase at the Sept. 15-16 meeting, reversing a two-thirds majority for a hold last week
By Rashika Singh Sept 14 (Reuters) - A growing number of brokerages expect the Federal Reserve to raise rates this week after stronger-than-expected inflation readings raised doubts that price pressures would ease without further tightening.
The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.
The Federal Reserve is expected to raise interest rates to fight inflation, addressing persistent price increases pushed higher by global events. Learn more.
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
September Fed rate-hike bets surge after hottish August CPI as investors weigh whether Fed Chair Kevin Warsh will deliver more than one increase, in any.
The number matched analyst expectations and was even with July’s 3.4%.
U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters as midterm