Inflation running too hot even without oil, Fed’s Schmid says

Kansas City Fed President Jeff Schmid reiterated points he has made all summer about inflation running too hot even when excluding energy prices, sparking the need for fiscal tightening.

Inflation stayed hot in August with annual pace of 3.4%, raising the odds of a Fed hike

The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.

Elevated Inflation Keeps Pressure on Fed to Raise Interest Rates

The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.

Stock market today: Dow, S&P 500, Nasdaq rise as oil slips, Fed rate hike pacifies markets' inflation worries

An expected Fed rate hike on Wednesday offered some relief to stock investors that the central bank was working to contain inflation.

Stock market today: Indexes close lower again as Fed Chair Warsh warns about inflation after central bank raises interest rates

Major stock indexes finished lower for the seventh time in eight sessions Wednesday, with the Dow Jones Industrial Average shedding more than 600 points, after the Federal Reserve unanimously raised interest rates for the first time since 2023 and Chair Kevin Warsh warned about continued inflation.

The Fed Raises Rates to Rein in Inflation, Signals One More Increase This Year

The FOMC is expected to raise the federal-funds target range to 3.75%-4% when it releases its rate decision on Wednesday at 2 p.m. Eastern. Warsh will later speak to the media in a press conference slated to start at 2:30 p.

Bank of England defies Fed’s rate-hike lead, leaving rates unchanged

The Bank of England kept rates steady Thursday, even after U.K. inflation rose to 3.1% and energy costs put pressure on prices.