Fed Faces Pressure to Hike Rates Amid Worsening Inflation

With inflation worsening rapidly, attention is shifting from whether the US Federal Reserve will raise borrowing costs at its upcoming meeting to how many hikes will follow.

The central bank's chairman, Kevin Warsh, is under pressure to perform as bond markets force his hand. Wall Street is pricing in a more than 90% chance that the Fed will deliver its first rate increase since 2023, and another hike by the end of the year is also anticipated.