PCE Report: Inflation Up in April, Making Rate Cuts Less Likely
Inflation in April rose to 3.8% year-over-year, up from 3.5% in March, according to the Personal Consumption Expenditures (PCE) Index, released May 28, which is the Federal Reserve’s preferred gauge of inflation. That likely puts a damper on the Fed lowering interest rates, as their stated goal has always been to have inflation around 2%.…
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