Wall Street is penciling in a 28% chance of a super-sized rate hike at the Fed’s Sept. 20-21 meeting, according to the CME Group’s FedWatch tool. The Labor Department report showed the consumer price index rose 8.3% in August from a year ago and 0.1% on a monthly basis. Core prices, stripping out the more volatile measurements of food and energy, re-accelerated last month. The Fed is in a precarious situation as it walks the line between cooling consumer demand and bringing inflation closer to its 2% target.Read Long Article
