Fed Rate Hike Looms as Trump Escalates Pressure Campaign on Warsh

Markets are pricing in a 60% chance of a quarter-point Federal Reserve rate hike at the September 15–16 meeting, bolstered by Friday's surprise addition of 162,000 jobs in August against expectations of roughly 55,000. The August unemployment rate held steady at 4.1%, but the blowout hiring number has reignited inflation fears—and set up a direct collision between the White House and the central bank.

Behind the Data

Here's the paradox: President Trump...