Inflation Rises, Narrowing Chances for a Fed Rate Cut
The latest report on inflation seems to validate the Federal Reserve’s decision to keep rates unchanged. A day after a split Federal Reserve defied political pressure to hold interest rates steady, an inflation measure closely followed by the central bank showed prices increased 0.3% last month. The personal consumption expenditures price index was in line with estimates for the month, although the annual rate of 2.6% was a notch higher than expected and follows May’s 2.3% rate. The core index that omits energy and food […]
