Fed may weigh historic 100 basis-point hike

Surging inflation piles pressure on central bank

HOUSTON: Federal Reserve (Fed) officials may debate a historic one percentage-point rate hike later this month after another searing inflation report piled pressure on the central bank to act.

“Everything is in play,” Atlanta Fed president Raphael Bostic told reporters in St Petersburg, Florida, after US consumer prices rose a faster-than-forecast 9.1% in the year through June.