Forex
Fed Interest Rate Decision Looms as Dallas Fed President Weighs In
The Federal Reserve is set to make an interest rate decision on September 16, following a divided vote in July. The meeting will determine whether borrowing costs for North Texas households and businesses increase.
Dallas Federal Reserve President Lorie Logan was one of three officials who dissented from the majority's decision to keep the benchmark rate unchanged at 3.5%-3.75%. Logan, along with Beth Hammack and Neel Kashkari, preferred a rate increase of one-quarter percentage point.
The latest Bureau of Labor Statistics report showed consumer prices increased 0.4% in August on a seasonally adjusted basis, compared to a 0.1% rise in July. Gasoline prices rose 3.9%, accounting for more than one-third of the overall monthly increase.