Fed rate hike call seen tight as inflation heats up - The Korea Times

A Federal Reserve interest-rate decision later this month may be a closer call than previously thought after Labor Department data showed consumer prices were up 3.7 percent last month from a year earlier, well above the Fed's 2 percent target and moving in the wrong direction. Higher gasoline prices from the Middle East war were a main driver. Excluding volatile food and energy prices, the core Consumer Price Index (CPI) was up 2.6 percent, more than the 2.5 percent economists polled by Reuters had projected. The Fed lifted the policy rate in September to a target range of 3.75 percent-4.