U.S. inflation rose moderately in March, and the Federal Reserve is not expected to cut interest rates until September
2024-04-26 12:40:28
April 26 - U.S. inflation rose modestly in March, but that is unlikely to change financial marekt's expectations that the Federal Reserve will not cut interest rates until September. The Commerce Department said Friday that the PCE price index rose 0.3% month-on-month and 2.7% year-on-year in March. Market expectations were 0.3% and 2.6%, respectively. The month-on-month inflation data of 0.2% is necessary to bring inflation back to target over time. The Federal Reserve is expected to keep interest rates unchanged next week. Financial marekt initially expected the Fed to cut interest rates for the first time in March, but then the rate cut was delayed until June and now again until September, as labor market and inflation data continue to unexpectedly rise this year.
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