August Inflation Came in Hot, and the Odds of a September Rate Hike Are Now 85%. But There's a Silver Lining Driving Stocks Higher.
Core inflation rose 0.3% in August, slightly more than expected.
Overview
All eyes were on the August Consumer Price Index (CPI) released on the morning of Sept. 11, as it was the last major data point before the Federal Open Market Committee (FOMC) makes a decision on interest rates at its meeting on Sept. 15-16.
Unfortunately for the doves, the inflation data came in slightly hotter than expected.
Details
The CPI rose 0.4% in August, seasonally adjusted, bringing the headline year-over-year number to 3.4%. Both of those numbers were in line with economists' estimates.
Source
Originally published at www.fool.com.
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