Diesel Prices Add Pressure on Fed Rate Path

The Federal Reserve unanimously raised its benchmark rate by a quarter point as policymakers continue to face inflation above target and geopolitical uncertainty, according to Bloomberg. Merrill and Bank of America Head of CIO Market Strategy Joe Quinlan told Bloomberg This Weekend hosts David Gura and Christina Ruffini that elevated diesel prices are a particular concern for businesses and could keep pressure on the Fed to raise rates further.