Muted open on Wall Street amid inflation fears
It's a muted start for shares on Wall Street this Thursday as investors worry about a re-escalation in the Iran conflict. Oil prices climbed sharply this week which has raised inflation fears and has been pushing up government borrowing costs around the world. It has also added to bets that interest rates will have to rise. The odds that the US Federal Reserve will raise rates in two weeks have now jumped to 60 percent.
Samira Hussain spoke to Noah Hamman, CEO of AdvisorShares in Bethesda Maryland. He thinks US rates will stay on hold this month, but go up in October ahead of the midterm elections.
