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...