Stubborn inflation raises prospect of Fed rate hike
Summary
The Federal Reserve is expected to raise interest rates next week because inflation is still high. Inflation stayed the same in August and is above the Fed’s goal of 2 percent, partly due to ongoing tensions with Iran.Key Facts
- Inflation did not decrease in August and remains above 2 percent.
- The Federal Reserve aims to keep inflation around 2 percent.
- Rising inflation increases the chance that the Fed will raise interest rates soon.
- Interest rate hikes are a tool to try to reduce inflation.
- The conflict with Iran is contributing to inflation staying high.
- President Trump is involved in discussions about inflation and economic policy.
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