Jerome Powell could deliver a hawkish surprise on Wednesday even after effectively pre-announcing 50 basis-point interest-rate increases at the Federal Reserve’s meeting this week and in July. May’s red-hot inflation print hardened expectations the Fed would keep raising borrowing costs at that pace through September, with some investors betting the Fed chair will deliver a super-sized 75 basis-point move unless price pressures cool. Powell could reinforce that speculation during his post-meeting press conference by declining to take 75 basis points off the table -- as he explicitly did last month by stating such a ... (full story)