Good news in US inflation report boosts chances Fed won’t hike rates

Traders see about a 35% chance of an October rate hike, down from ​about 45% following White House pressure Good economic news boosted Wall Street’s main indexes on Wednesday, as a softer-than-anticipated inflation reading buoyed up hopes that the Federal Reserve might not hike rates as soon ⁠as next month.

A commerce department report ⁠showed the personal consumption expenditures (PCE) ​price index stood at 3. 4% on…