Viewpoint: The Federal Reserve's delay in raising interest rates will only prolong the pain

According to a report by Jinshi Data, Steven Whiting, co-founder of CIO Group, stated that if the Federal Reserve waits until December to raise interest rates again, it will only "prolong our pain." He believes that inflation is still too high, and raising interest rates "might be better" than continuing to wait.

The report cites CME FedWatch data, indicating that the market's pricing probability for a 25 basis point rate hike at this meeting is only 7%. Whiting emphasized that he is not predicting a rate hike by the Federal Reserve at this meeting, but he believes the probability of unexpected action is higher than 7%.