Inflation report raises Fed rate-hike odds

The Labor Department said Wednesday that consumer prices rose more in September than economists had expected. Investors are bracing for the Federal Reserve to again hike interest rates after the Labor Department said Wednesday that consumer prices rose more in September than economists had expected. The inflation report, which comes two weeks before the central bank’s next meeting and three weeks before Election Day, is heightening concerns about the Iran war’s effect on the cost of goods beyond food and energy. With consumer sentiment already nearing a record low, the Trump administration is frantically trying to put a positive spin on the data — and discourage the central bank from acting. Adviser Kevin Hassett told Fox Business it’s a “blip,” while adviser Peter Navarro wrote an editorial on why it proves “the Fed should hold its fire.” All eyes are on Fed Chair Kevin Warsh, who is slated to speak in Bangkok later this week.