Searing-hot inflation data opens door to 100-basis point Fed rate hike in July

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The dismal June inflation report has some Wall Street economists betting that the Federal Reserve will approve a historic 100-basis point interest rate hike in July as policymakers race to tame runaway consumer prices. About 44% of traders are pricing in the chance of a full percentage point rate increase during the Fed's meeting on July 26-27, according to the CME Group, which tracks trading. Th...

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