More Bad News for the Fed: Its Favorite Inflation Gauge Increased More Than Expected in March
Inflation is showing little signs of cooling. The core personal consumption expenditures price index, the Federal Reserve 's favorite inflation gauge, held steady last month, and that's still too hot for comfort.
Fed’s preferred inflation gauge shows price pressures stayed elevated last month
A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
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