World
Good news in US inflation report boosts chances Fed won’t hike rates
The Guardian World · Leans Left
Traders see an about 35% chance of an October rate hike, down from about 45% following White House pressure
Good economic news boosted Wall Street’s main indexes on Wednesday, as a softer-than-anticipated inflation reading buoyed hopes that the Federal Reserve might not hike rates as soon as next month.
A commerce department report showed the personal consumption expenditures (PCE) price index stood at 3.4% on an annual basis in August against estimates of 3.7%, per economists polled by Reuters.
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