Following a 0.3% month-over-month increase in the US core CPI for August (above the 0.2% expectation), Wall Street investment banks swiftly revised their forecasts for the Federal Reserve's interest rate path. Institutions that previously anticipated no further rate changes for the remainder of the year have now largely shifted to betting on a September rate hike by the Federal Reserve. TD Securities is the most hawkish, projecting a total of three 25 basis point rate hikes in September, October, and January 2027. JPMorgan Chase expects one rate hike each in September and December. MUFG anticipates a September hike followed by a pause in October, with a 55%-60% probability of another hike in December. Citi, on the other hand, expects a September hike, with rates then remaining unchanged until June 2027, followed by rate cuts.