Fed Eyes Rate Hike Amid Rising Inflation | Honolulu News

Consumer prices held steady at a 3.4% annual rate, fueled by a sharp 3.9% jump in gasoline—sparking Fed concerns as inflation spreads beyond energy into other sectors. Core inflation dipped slightly, but consumer sentiment hit record lows as rising costs and global tensions weigh on wallets. With the Fed meeting next week, markets bet heavily on another rate hike, while companies scramble to shield profits through contracts and tariff refunds—though relief may be temporary as broader price pressures mount.

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