Federal Reserve Chairman Kevin Warsh faces mounting pressure to address interest rates following the release of the August Consumer Price Index (CPI) report. Headline CPI rose 0.4 percent month-over-month and 3.4 percent year-over-year, surpassing the Fed’s 2 percent inflation target. Core CPI, excluding food and energy, increased 0.3 percent monthly and 2.4 percent annually. Rising gasoline prices were the primary driver of the acceleration. Market pricing now indicates a strong likelihood of rate hikes, reducing the probability of cuts at upcoming Federal Open Market Committee (FOMC) meetings.
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