After last week’s red-hot June inflation reading that surged to 9.1 percent, traders increasingly bet that the Federal Reserve could raise the benchmark interest rate by 100 basis points at the July Federal Open Market Committee (FOMC) policy meeting.
The latest odds of a 100-basis-point sit at 31 percent, according to the CME FedWatch Tool.
But U.S. central bank officials are not ready to commit to a full percentage point increase later this month, which would be the largest in the Fed’s modern era.
Speaking in an interview with Bloomberg radio, Fed Cleveland Bank President Loretta Mester was not adamant about accelerating the institution’s rate hikes to combat soaring price inflation, although she conceded that the consumer price index (CPI) headline number “was uniformly bad, there was no good news in that report.”…
RSS Feed The Epoch Times