Markets sharply repriced the Federal Reserve ahead of next Wednesday's meeting, with the implied probability of an interest rate increase rising from roughly 50% to about 90% after inflation data showed persistent price pressures. The producer price index accelerated to 5.4% annually from 4.8%, while core prices (inflation excluding food and energy) rose 0.3% month over month, above the 0.2% forecast, even as headline consumer inflation held at 3.4% year over year. Energy costs remained a major driver: gasoline rose 3.9% in August and 27.4% from a year earlier, while West Texas Intermediate crude moved above $100 a barrel and had gained more than 70% in 2026. The International Energy Agency cut its 2026 global supply forecast by another 1.4 million barrels per day. Diesel reached a record national average of $6.06 a gallon, while consumer sentiment fell to 47.8, its second-lowest reading in the University of Michigan survey's history. Bond yields also climbed, with the 30-year Treasury reaching 5.35%, its highest level since May 2007. Stocks rebounded Friday as crude prices retreated but still ended the week lower, while Skyworks Solutions led S&P 500 gainers with a 28.1% advance.