Fed faces challenge as inflation heats up in April.
TL;DR Summary
Inflation rose 0.4% in April and 4.7% from a year ago, according to the personal consumption expenditures price index, a gauge closely followed by the Federal Reserve. Despite the higher inflation rate, consumer spending held up well as personal income increased. The report showed that spending jumped 0.8% for the month, while personal income accelerated 0.4%. The higher inflation rate could lead to interest rates staying higher for longer, potentially impacting consumer spending.
Topics:business#consumer-spending#economy#federal-reserve#inflation#interest-rates#personal-consumption-expenditures
- Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed CNBC
- April's PCE Inflation Data Comes Today. What to Expect From the Report. Barron's
- The Key Fed Inflation Rate Heated Up In April; S&P 500 Futures Slip | Investor's Business Daily Investor's Business Daily
- Breakevens say US inflation scare over, but Fed won't buy it ZAWYA
- Inflation Inched Higher in April, Reflecting Challenge for the Fed The New York Times
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