Economy
US Federal Reserve rate hike expected following high inflation data
Livemint1h
THE BRIEF
1
A US Federal Reserve rate hike next week appears almost certain after August consumer price index data showed core inflation advanced 2.4% annually.
2
Rising US crude oil prices crossing $100 a barrel and a record US diesel price above $6 a gallon further amplified inflation pressures.
3
Traders are pricing in a 90% probability of a quarter-percentage-point increase at the central bank's September 15-16 policy meeting.