Federal Reserve, Inflation
Digest more
7don MSN
The Fed is likely to raise interest rates as inflation persists. What that means for consumers
The Federal Reserve is widely expected to raise its benchmark interest rate by a quarter percentage point at its September meeting.
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs,
The Fed now thinks inflation will take even longer to return to the goal, as stubborn inflation, rising rates, and economic uncertainty persist.
The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.
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.
The Federal Reserve will likely need to hike interest rates further to lower inflation resulting from strong demand as ​well as a commodity price shock that has moved beyond oil, St. Louis Fed President Alberto Musalem said on Monday,
Kansas City Fed President Jeffrey Schmid supported the Federal Open Market Committee's decision to raise the federal funds rate target range by 25 basis points to 3.75%-4.00% on Wednesday, he said on Friday.
The Fed's first rate hike in more than three years underscores the challenge of taming inflation as the Iran war drags on.