The Fed is likely to consider a 0.75 percentage point rate hike this week

A string of worrying inflation reports over the past few days should prompt Federal Reserve officials to consider surprising markets with a larger-than-expected 0.75 percentage point rate hike at this week’s meeting.

Before officials began their pre-meeting lull on June 4, they had signaled they were ready to raise interest rates by half a percentage point this week and again at their July meeting. But they had also said their prospects depended on the economy performing as expected. Last week’s inflation report from the Labor Department showed a larger jump in prices in May than officials had expected.

https://www.wsj.com/articles/bad-inflation-reports-raise-odds-of-surprise-0-75-percentage-point-rate-rise-this-week-11655147927?mod=pls_whats_news_us_business_f The Fed is likely to consider a 0.75 percentage point rate hike this week

Luke Plunkett

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