"Inflation Surges: Fed's Caution in Rate Cuts Reinforced by Latest Data"
TL;DR Summary
The Federal Reserve's cautious approach to rate cuts is reinforced by new inflation data, with the Producer Price Index rising 0.6% in February and core prices climbing 2% year-over-year, higher than expected. This could delay rate cuts, with odds of a first cut in June slipping to 63%. The Fed is expected to hold the benchmark policy rate steady at its upcoming meeting, and some officials may scale back expected cuts for 2024 based on the stickier inflation data.
Topics:business#federal-reserve#financeeconomy#inflation#interest-rates#monetary-policy#producer-price-index
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