US Federal Reserve is expected to hold rates steady at its July meeting despite inflation hitting a three-year high. Markets see a possible pause now, but still price in a higher chance of a rate hike in September as core inflation remains elevated.

Fed forecasts persistent inflation and likely rate hikes by year-end. Inflation below 3.6% in June at 3.2% YES.

US Federal Reserve is expected to hold rates steady at its July meeting despite inflation hitting a three-year high. Markets see a possible pause now, but still price in a higher…