The Wall Street Journal: With inflation hotter, Fed might now consider 75-basis-point rate hike this week

A string of troubling inflation reports in recent days is likely to lead Federal Reserve officials to consider surprising markets with a larger-than-expected 0.75-percentage-point interest rate increase at their meeting this week. Before officials began their pre-meeting quiet period on June 4, they had signaled they were prepared to raise interest rates by a half percentage…