Fed expected to stick to aggressive rate hikes as inflation stays hot

A 75 bps increase at the Fed's Sept. 20-21 meeting would put the policy target in the 3%-to-3.25% range, above the level that most policymakers believe will start biting into economic growth

The U.S. Federal Reserve is seen delivering a third straight 75-basis point interest rate hike next week, if not more, after a government report showed that consumer prices did not ease as expected in August and price pressures appeared to broaden.
 

The consumer price index climbed 0.1% last month from July, and gained 8.3% from a year earlier, the Labor Department reported Tuesday.
 

Economists had expected a small monthly decline as energy prices fell. But the report showed accelerating inflation in many goods and services and a particularly worrisome rise in rent, which tends to be sticky from one month