Early rate cut hopes dashed on inflation data

TheStar Fri, Apr 12, 2024 12:00am - 1 month View Original


Powell: The risk of cutting rates too soon was that inflation does move up. It would be quite disruptive if we were to have to then come back in to raise rates. — AP

WASHINGTON: US consumer inflation continued to accelerate last month, according to government data published, reducing the chances of an early interest rate cut from the Federal Reserve (Fed) in a tense election year.

The data raised the likelihood that the first Fed rate cut will come right before November’s presidential vote, which would thrust the independent US central bank into the middle of a fractious fight between President Joe Biden and his likely opponent, former president Donald Trump.

The annual consumer price index (CPI) came in at 3.5% in March, up 0.3 percentage points from February, the Labour Department said.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

CME 0.025

Comments

Login to comment.