The Chances of a Federal Reserve Rate Hike Are Surging. Here's What It Means for the Stock Market.

Key Points For far too long, inflation has lingered above levels the Federal Reserve considers palatable. As a means of tamping down this unchecked price growth, higher interest rates are on the (very) near-term horizon. These higher interest rates, however, also work against the stock market by stifling profitable growth. These 10 stocks could mint the next wave of millionaires › Interest rates in some parts of the economy were already rising in anticipation of the news. When the Bureau of Labor Statistics confirmed on Friday that the United States' consumer inflation rate was indeed a lofty 3.4% in August, those rates edged even higher. The Federal Reserve now has little choice but to attempt to curb this inflation, and soon.