Fed Weighs Rate Hike as Inflation Fears Spread

The Federal Reserve is set to meet on Wednesday, and there's speculation that it could raise interest rates for the first time since 2023. This move would be in response to rising oil and fuel costs, which are contributing to inflation concerns.

Rising energy prices have had a significant impact on the economy, with gas averaging $4.32 per gallon and diesel reaching an all-time high of $6.23. This has led to stocks experiencing their worst start to September in two decades.