Go Banking Rates
By Yaёl Bizouati-Kennedy
The Fed’s Federal Open Market Committee (FOMC) is meeting today and June 15, and investors are bracing themselves for a potentially faster and steeper rate hike, as inflation data was worse than expected — hitting 8.6% in May.
See: How Much Did Inflation Increase the Price of Bacon, Bread & Eggs in May?
Find: How Much More Did Gas & Electric Cost You in May?
Following the Consumer Price Index (CPI) release last week, several analysts and Wall Street insiders believe the Fed will be more hawkish, raising rates by 0.75 percentage points — which would be the first time since 1994, according to The Wall Street Journal.