May Inflation Rises, Consumer Spending Declines, Fed Maintains Cautious Stance
TL;DR Summary
Inflation in May increased slightly more than expected, with the core PCE index rising by 0.2%, leading the Federal Reserve to likely delay interest rate cuts until at least September to better assess the impact of tariffs and inflation trends.
- Inflation creeps higher in May and dims chances of the Fed cutting interest rates soon MarketWatch
- Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows CNBC
- Americans reined in their spending last month CNN
- US Consumer Spending Drops in May, Price Pressures Remain Muted Bloomberg.com
- Fed's Targeted Inflation Gauge Shows Little Tariff Impact WSJ
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