Cleveland Fed President Hints at Need for Rate Hikes to Combat Inflation, Market Bets on 65% Probability of September Hike

According to Odaily, Cleveland Fed President Beth Hammack recently suggested that the Federal Reserve may need to raise interest rates to curb persistently high inflation. Currently, interest rate futures traders estimate the probability of a Fed rate hike in July at approximately 15%, while the probability for September stands at around 65%. (Jinshi)