Federal Reserve Chair Powell: Remark on 'favorite inflation gauge' is inaccurate

Inflation and oil prices push the probability of a rate hike to nearly 90%. How will Warsh respond to the White House's demand for low interest rates?

The current interest rate hike probability is around 50%, with benign inflation data potentially prompting a wait-and-see approach. However, the hawkish stance still introduces uncertainty into the future policy outlook.