Inflation Ups Bets on 100 Basis Point Rate Hike

S&P sits on key support.

Our View

I don't know why there isn't more concern as inflation tops 9% and delivered its highest reading in more than 40 years. 

“The CPI reading for June had its highest reading since November 1981, the Labor Department said on Wednesday. A big jump in gasoline prices—up 11.2% from the previous month and nearly 60% from a year earlier—drove much of the …