Fed dilemma now

A fresh reading on inflation showed tariffs are pushing goods prices higher for Americans, creating a dilemma for the Federal Reserve of whether to hold interest rates steady in September.

The Consumer Price Index (CPI) for July showed prices, excluding volatile food and energy prices, rose 3.1% year over year. That was hotter than the 3% economists expected and up from 2.9% in June, when inflation was pushed higher by rising goods prices. Month-over-month CPI clocked in as expected, rising 0.3%.