Higher U.S. CPI, FOMC Minutes Lead to Greater Chance of Rate Hike

Fed fund futures showed a slightly heightened risk of a rate hike in 2008 by the Federal Reserve, following a higher-than- expected CPI print for June on Wednesday. Markets were subsequently forecasting a 44% chance that the Federal Open Market Committee (FOMC) would hold rates at 2.00% at the Dec. 16 meeting. ...