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Hotter than expected US inflation fails to soften June rate cut hopes
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investmentweek.co.ukAccording to data from the US Bureau of Labor Statistics, US CPI rose to 3.2% in February, surpassing expectations for it to remain unchanged from January's figure of 3.1%. Shelter and gasoline were the most significant contributors, responsible for over 60% of the monthly increase in the index for all items. Hotter than expected US inflation tempers Fed rate cut expectations Nathaniel Casey, investment strategist at Evelyn Partners, said that although the figure was «warmer than expected», it is unlikely to prevent the Fed from cutting rates later in the year. Quilter Investors...
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