Inflation persisted in August, potentially locking in a Fed interest rate hike
... The report is the final major inflation indicator the Fed will see before it holds its policy meeting next week, concluding Wednesday with a vote on its key interest rate.
Traders responded to the numbers by ramping up bets that the Federal Open Market Committee will increase its benchmark interest rate by a quarter percentage point. Odds for a hike jumped to nearly 90%, according to the CME Group’s FedWatch tracker of fed funds futures prices. ...
