The surprise increase in headline inflation to a 40-year high of 8.6% in May, from 8.3%, together with another strong rise in core prices raises the odds that the Fed will need to extend its series of 50bp rate hikes into the fall, and even opens the door to a larger 75bp move at next week’s FOMC meeting.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.