Fed rate hike in September is all but guaranteed after CPI report, economists say
A hotter-than-expected inflation report has sharply raised the likelihood that the Federal Reserve will increase interest rates in September, which would mark its first rate hike since 2023. The Consumer Price Index rose at an annual rate of 3.4% in August, in line with July’s reading but higher than the 3.3% economists were forecasting. One-third…