Steep Fed rate hike seen as certainty after ugly inflation data
The Federal Reserve is poised to unleash another massive interest rate increase this week after the latest data showed a worrying US inflation picture, which confirmed the need for the central bank to continue to act aggressively.. While the latest data showed US annual inflation slowed slightly to 8.3 percent in August -- from a peak of 9.1 percent in June -- prices actually accelerated slightly in the month, reflecting widespread price increases.