Federal Reserve rate hike is about Wall Street, not inflation, economist argues

Fed rate hike odds surge to 90% after core inflation surprises to the upside

Core CPI +0.3% in August surpassed 0.2% forecast, raising Fed hike probability to 90% for September 16; rates move to 3.75-4.00% range. Rate hikes tighten capital for tech startups, pressuring valuations and hiring budgets as investor risk appetite shrinks.