Sep. Fed rate-hike odds surge
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Inflation, August and Consumer prices
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The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.
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.
Although the CPI data is important, the Fed's 2% inflation benchmark is tied to the annual growth in the personal consumption expenditures, or PCE, price index produced by the Bureau of Economic Analysis.
A hotter-than-expected inflation reading strengthened the case for the Federal Reserve to raise interest rates next week for the first time in three years. Markets now see a rate hike as close to a sure thing after the Labor Department reported that core prices,
August CPI data leaves Kevin Warsh to choose between acting on his inflation warnings or risking new doubts about his control of the central bank.