A jump in wholesale prices is likely to bolster concerns among Federal Reserve policymakers that rising inflation remains a risk, intensifying debate over the rationale for an interest rate cut next month and leaving the tension between the U.

A hotter-than-expected wholesale inflation report just made the Federal Reserve’s decision regarding a September rate cut even harder, raising questions of whether higher prices for businesses will be passed on to consumers,

Futures markets are also expecting a rate cut. Investors peg the chances of a quarter-point interest rate cut at nearly 96%, according to the CME FedWatch Tool, a measure of market sentiment.