An unexpected increase: Fed’s favorite inflation measure heated up last month
The Federal Reserve’s preferred inflation gauge bounced higher in April, underscoring Fed Chair Jerome Powell’s warning that reining in price hikes “is likely to be bumpy,” but also increasing the odds for further rate hikes. The Personal Consumption Expenditures price index rose 4.4% for the 12…
#federalreserves #jeromepowell #commercedepartment #pce