A key reading on inflation showing no progress this morning, raising questions about whether the Federal Reserve could push out the timing of expected interest rate cuts this year. The Fed's preferred inflation measure — the "core" Personal Consumption Expenditures index that excludes volatile food and energy prices — clocked in at 2.8% on a 12-month basis and was up 0.3% from a month ago. Both numbers matched estimates. The latest reading on inflation comes as Federal Reserve Chair Jay Powell is set to speak later this morning. The stock and bond markets are closed in observance of the Good Friday holiday For more analysis on recent market moves, click here
It is halfway through our conversation when Alex Matthews’ voice, usually so firm and vibrant, unexpectedly begins to crack. Her excitement at starting at No 8 for England this weekend quickly dissipates, as she reflects on how difficult the past few months have been.
The former president’s son hemmed and hawed before eventually working in a Biden slam.