Rising inflation turns July Fed meeting into rate-hike showdown

The Federal Reserve’s upcoming policy meeting on July 28-29 has shifted from an expected routine hold on interest rates to a closely contested decision, with economists and traders now viewing the outcome as highly uncertain. Several economic developments have altered the landscape since earlier projections suggested the central bank would maintain its benchmark Federal Funds Rate in the 3.5% to 3.75% range.
Geopolitical escalation in the Middle East has caused energy prices to rise again