A member of the Federal Reserve has expressed support for a potential interest rate hike if inflation remains elevated. The Fed’s policy rate is currently between 3.50% and 3.75%, with projections from June indicating a likelihood of at least one more rate hike by the end of 2026. Market participants have priced in a 40%-44% chance of a September rate hike. Inflation currently exceeds the Fed’s 2% target.
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