A Federal Reserve official, who has backed aggressive rate hikes this year, said he would support a 0.75-percentage-point hike at a central bank meeting in two weeks — though strong economic data will loom between now and then. can tip the scale in favor of A perfect percentage point.
Labor Department told on Wednesday that inflation rose to 9.1% in June from a year ago, the fastest pace in more than 40 years. The consumer-price index last month revealed a broadening in price pressure, even after accounting for large gains in food and energy prices.