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Andrew Ackerman reports that the U.S. core Consumer Price Index (CPI) rose by 0.3 percent in August, coming in slightly hotter than anticipated and lending support to the case for an interest rate hike next week.
According to Ackerman, traders are now pricing in a 90 percent likelihood of a rate hike at the upcoming meeting, a notable increase from about 70 percent prior to the CPI release.
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Ackerman has recently reported that gold climbed about 15 percent this month as the U.S. Treasury acted to control debt costs. He also covered the Fed chair’s call for quieter, more purposeful communications during the latest Jackson Hole address. Both market reactions and central bank messaging remain key topics in his coverage.