"January Wholesale Inflation Accelerates, Stock Market Reacts: What It Means for Consumers and Investors"

US wholesale prices rose 0.3% in January, indicating ongoing inflation pressures, with core prices climbing 0.5%. Public frustration with inflation remains high, impacting President Biden's re-election bid. The Federal Reserve is cautious about cutting its benchmark interest rate, despite optimism that inflation is headed lower. Economists forecast a jump in core prices in the Fed's preferred gauge, potentially leading to a rate cut in May or June.