Markets brace for Fed decision as futures edge higher on rate-hike bets

Futures point to a Federal Reserve rate hike on Wednesday, with odds around 92% for a 25 basis-point increase as U.S. stock futures drift higher andTuesday’s session saw the Dow, S&P and Nasdaq slip while Treasury yields rose. Inflation cooled in August (CPI 3.4% YoY) but core inflation remained elevated; crude oil rose on Saudi supply disruptions, with WTI near $106 and Brent around $109. Global markets were mixed in Asia ahead of the policy decision, and investors also watched for signals from central banks, including a likely BOJ rate hike to 1.25%.