US inflation data due Friday may push Fed to first rate hike since 2023
A US consumer inflation report due Friday could lead the Federal Reserve to raise interest rates for the first time in over three years, as the war with Iran drives energy costs higher. Economists expect August CPI at 3.4% year-on-year, still above the Fed's 2% target, and traders see a 71.4% chance of a quarter-point hike next week. The report is filed from Washington.