Fed pressed to hike as price pressures reappear ahead of policy meeting

Fed officials are confronting renewed price pressures from oil, AI-driven demand, and tariffs, keeping a potential rate hike on the table for the July meeting even as inflation cools modestly; markets have priced in a meaningful chance of a move, and dissent from policymakers remains a possibility as the central bank weighs whether to hold or hike in a fragile inflation backdrop.