US inflation increased more than expected in March; CPI climbed 3.5% annually
Investing.com -- Headline U.S. consumer price growth accelerated in March, but growth in the underlying measure remained unchanged, which could further increase the uncertainty surrounding the timing of potential Federal Reserve interest rate cuts this year.increased by 3.5% last month, above the pace of 3.2% notched in February, and more than the 3.4% expected.
Federal Reserve Governor Michelle Bowman, a known hawk, said last week it’s not time for the U.S. central bank to consider cutting its interest rate target and noted that more hikes could be on the table if progress on lowering inflation stalls out. That said, Chicago Federal Reserve President Austan Goolsbee said on Monday the U.S. central bank must weigh how much longer it can maintain its current interest rate stance without it damaging the economy.
U.S. stock futures retreated sharply following the data. Yields on the rate-sensitive 2-year Treasury bond and the benchmark 10-year note, which typically move inversely to prices, climbed.As I've been saying here for a month, inflation is FAR from being controlled and we were more likely to see rate hikes than cuts this year. Inflation is FAR from being controlled and we were more likely to see rate hikes than cuts this year.
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