Key Takeaways Inflation rose in June, moving further from the Federal Reserve's goal of 2% each year.This flare of inflation will likely discourage the Fed from cutting its influential interest rate later this month.

Short-term U.S. interest-rate futures rose on Wednesday after a report that President Donald Trump is likely to fire Federal Reserve Jerome Powell soon, with traders now betting on rate cuts starting in September and at least one more by December.

If you’re hoping the Federal Reserve cuts interest rates this month, you might be disappointed. Comerica Bank predicted policymakers might not make a move unt