University of Michigan data shows US year-ahead inflation expectations jumped to 4.6% from 4.0%, evidence the Fed may hike Wednesday to defend its credibility, not just react to last week's hot CPI and PPI reports.
MacroMicro notes hotter-than-expected core CPI for a second month helped swing Fed funds futures to about 90% odds of a September hike, with oil near $100 and a firm PPI print closing the hold-or-hike debate. Source
