Inflation surges, PCE shows. Fed pause on rate hikes unlikely to last with prices still rising.
Summary
Recent PCE data reveals that living costs climbed significantly over the past month. This persistent price growth suggests the Federal Reserve will likely resume raising interest rates soon, despite its recent temporary pause in the inflation campaign.
Even though the Federal Reserve temporarily put its inflation fight on hold this week, the cost of living rose sharply again last month in a sign the central bank’s work is far from done.
Source: Read the full story at MarketWatch.com - Top Stories
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