in the first three months of the year. But even more concerning to investors was that inflation accelerated faster than Wall Street had expected, sending shockwaves through markets on Thursday.from the Bureau of Economic Analysis showed the "core" Personal Consumption Expenditures index, which excludes the volatile food and energy categories, grew by 3.7% year-over-year in the first quarter, above estimates for 3.4%, and significantly higher than 2% gain seen in the prior quarter.
Federal Reserve chair Jerome Powell recently reiterated that the Fed won't be cutting rates until it has "greater confidence" on inflation's decline. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period."There was very little to be worried about in terms of real GDP and real growth in this print," Furman said. "There was a lot to be worried about in terms of inflation."the market could still chug higher even if the Fed doesn't cut interest rates this year. But in the near-term the scaling back of interest rate cut expectations has sent bond yields higher.
The company recently attempted to fend off short sellers by advising investors on ways to prevent their shares from being loaned for short-interest positions.
Bond Yields Inflation Gauge Bureau Of Economic Analysis Data Release
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