The Fed's Rate Hike Certainty: A Misguided Confidence The S&P 500's latest gains, driven by strong inflation data and rising rate hike bets, have Wall Street analysts proclaiming a "slam dunk" for the Federal Reserve to tighten monetary policy next week.
However, this confidence may be misplaced. The Consumer Price Index (CPI) has accelerated, with gasoline prices rebounding after two consecutive monthly declines.
This development puts pressure on the Fed to raise interest rates and combat inflation.