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.
Continue reading…Traders see an about 35% chance of an October rate hike, down from about 45% following White House pressureGood 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. Continue reading…
