Explainer
A Month Ago a Fed Hike Was a Coin Toss. The Market Now Treats It as Settled.
The Federal Reserve decides on Wednesday whether to raise its benchmark rate from 3.50 to 3.75 percent. After Kevin Warsh's Jackson Hole speech, betting on a hike was roughly even. After August's core inflation came in above forecast and oil rose toward $108, futures priced it at about 85 percent on Monday. For households, the effects arrive at very different speeds.
