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US inflation spike to 3.5% tempers Fed rate cut expectations
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investmentweek.co.ukThe Bureau of Labor Statistics revealed the US Consumer Price Index rose to an annual rate of 3.5% in March, an increase from February's figure of 3.2%. Similarly to February, shelter and gasoline were the biggest contributors, responsible for over half of the monthly increase in the index for all items. Jerome Powell: Rate cuts likely as US inflation is on track to meet target Richard Carter, head of fixed interest research at Quilter Cheviot, said the figures have «dashed any remaining hopes» for a May rate cut, as CPI is «firmly» above the Fed's 2% target and has been heading i...
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