Fed Could Entertain Full Point Rate Hike in the Wake of Inflation Scorcher

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Would the US Federal Reserve actually raise interest rates this month by a full point (or one hundred basis points, depending on which sounds more dramatic)? Markets are very suddenly saying yes.

On Wednesday, the Fed Funds Futures probability priced in a 77% chance of a full point rate hike, according to the CME Group's FedWatch Tool. That would amount to the largest increase since the Fed began using overnight interest rates in the 1990s.

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Source Fool.com