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This week's higher-than-expected inflation report almost certainly means the Fed will increase interest rates next week, but @allisonschrager has some bad news: A rate hike or two probably won’t be enough to do the job (via @opinion)

A record jump in the price of cellular phone services helped push a key measure of US inflation above forecasts, likely securing a Federal Reserve interest-rate increase next week.

"The new Federal Reserve News Agency": The Federal Reserve is likely to raise interest rates next week, but a single rate hike will not solve the problem.

A majority of economists see the Federal Reserve holding interest rates steady at this month’s meeting and through the end of 2027, according to a Bloomberg survey.