March data released Friday confirmed the Federal Reserve still has more work ahead to slow the pace of inflation. In the previous three months, the PCE price index rose less than 0.1% on average. The annual increase in inflation has come in between 2.4% and 2.6% for four straight months through March, versus the Fed’s 2% target.
The Personal Consumption Expenditures (PCE) data for March aligned with forecasts, registering a 0.3% increase on a month-over-month basis and a 2.7% rise year-over-year. Yahoo Finance's Fed Reporter Jennifer Schonberger sheds light on how this figure could impact Federal Reserve rate cut expectations. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
A tabloid boss claimed that Donald Trump invited him to a “thank-you dinner” at the White House in return for covering up his alleged infidelities.