US CPI rises 3.4% YoY, odds of next-week hike jump
August CPI increased 3.4% year-over-year and 0.4% month-over-month, with traders raising odds of a 0.25-point Fed hike next week after the data.
4% from the month prior. Gasoline accounted for more than one-third of the monthly increase as the Iran war continued to roil global oil markets. 25-point hike up by more than 13 percentage points Friday morning, according to CME Fedwatch. A chief investment officer told The Wall Street Journal that the Federal Reserve’s hands are tied and that a rate hike next week is all but assured.