'Compelled by circumstances': Banks forecast 75bp Fed hike

Investment banks have ramped up projections for US interest rate rises following a hotter-than-expected inflation reading, with several now forecasting a 75-basis-point hike this week. The Federal Reserve meets on Wednesday in the midst of heavy selling in stock and bond markets following May data showing the US consumer price index (CPI) rising at its fastest pace since 1981. https://ift.tt/rcpTgz2