Inflation SOARS Past Expectations - Fed Expected to Shoot Up Interest Rates

- News Bite -

According to a national report by the Federal Reserve, the consumer price index rose to 9.1% in July, surpassing even high expectations for inflation.

News of sky-high prices has driven analysts to predict the fed will continue to raise interest rates, with 1/3 of analysts predicting a %1 rate hike for July and September.

According to Yahoo News, On Wednesday, the Bank of Canada surprised markets by raising rates by that amount.

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The Portland Post News Division