@not_a_charm🇺🇸 Gas prices just gave the Fed another reason to raise rates next week. U.S. inflation picked up last month, with prices rising 0.4% after barely moving in July. And gas was a big reason why. Gas prices went up 3.9% in a single month, accounting for more than a third of the overall increase. Groceries at least gave people a little break, with prices barely changing. But take food and energy out, and prices still rose more than expected. Wall Street noticed pretty quickly. The chances of a Fed rate hike next week went from around 72% to 91% after the numbers dropped. That puts Trump and the Fed in a pretty awkward spot. He wants rates down, while the latest inflation numbers are pointing the other way. Source: Reuters / Writer: Daniyal

@not_a_charm🇺🇸 Gas prices just gave the Fed another reason to raise rates next week. U.S. inflation picked up last month, with prices rising 0.4% after barely moving in July. And gas was a big reason why. Gas prices went up 3.9% in a single month, accounting for more than a third of the overall increase. Groceries at least gave people a little break, with prices barely changing. But take food and energy out, and prices still rose more than expected. Wall Street noticed pretty quickly. The chances of a Fed rate hike next week went from around 72% to 91% after the numbers dropped. That puts Trump and the Fed in a pretty awkward spot. He wants rates down, while the latest inflation numbers are pointing the other way. Source: Reuters / Writer: Daniyal