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Fed Official Says 0.75-Point Rate Rise Seems Most Likely in July
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A Federal Reserve official who has favored aggressive rate increases this year said he would favor a 0.75-percentage-point rate rise at the central bank’s meeting in two weeks—though stronger economic data between now and then could tip the scale in favor of an increase of a full percentage point.
The Labor Department reported Wednesday that inflation rose to 9.1% in June from a year before, the fastest pace in more than 40 years. The consumer-price index revealed a broadening in price pressures even after accounting for large gains in food and energy prices last month.
Read more on wsj.comAbout this in other media
Biden-Xi make plans to meet in person, U.S. official says — and China's leader has strong words on Taiwan cnbc.com /1 year ago
Fed announces another three-quarter-point increase in interest rates theguardian.com /1 year ago
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