Fed Traders Bet on First Rate Hike in Over Three Years

The Federal Reserve's September decision may raise the federal funds rate for the first time in over three years. Despite President Donald Trump's call for lower rates, economists believe a cut is unlikely. Ahead of the meeting, inflation rose faster than wages, and hiring rebounded with 162,000 jobs added in August. Fed Chair Kevin Warsh emphasized the need for price stability. Most traders, according to CME FedWatch, are betting on a quarter-point rate hike on September 16.