Despite Falling Oil Prices, There's Now a 73% Chance of an Interest Rate Hike by September -- Here Are the 2 Culprits to Blame
There's more to U.S. inflation than just energy prices.
Overview
Although the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) have all notched record-closing highs since early June, trouble is brewing on Wall Street.
In May, trailing 12-month U.S. inflation surged to a three-year high of 4.2%, spurred by the inflationary effects of the Iran war. While the stock market has thus far been able to climb this wall of worry, the probability of the Federal Reserve raising interest rates has risen sharply.
Fed Chair Kevin Warsh delivering remarks. Image source: Official Federal Reserve Photo.
Details
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Originally published at www.fool.com.
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