Sticky inflation, resilient economy puts 50 basis point Fed rate hike in play

Sticky inflation, resilient economy puts 50 basis point Fed rate hike in play

A run of stronger-than-expected economic data, paired with elevated inflation, has renewed bets on bigger Fed rate hikes. The Federal Reserve may need to put its foot more firmly on the interest rate pedal next month, traders are indicating Thursday, as sticky inflation, a resilient job market and roaring consumer spending continue to stoke price pressures.