Up until last week, economists predicted a 50 basis point rate increase, as happened in May. But a U.S. government report Friday showed the consumer price index, which tracks inflation, rose to a new high of 8.6% instead of an expected slowdown. Now, the central bank is entertaining the possibility of accelerating its rate hikes, according to the Wall Street Journal.
Bond Traders Raise Bets for Fed Rate Hike, Adding to BTC Pressure
