April core inflation holds at 3.3%, keeping Fed on the sidelines
TL;DR Summary
April’s core PCE rose 0.2% to 3.3% year over year, with the broader PCE up 0.4% to 3.8%, while Q1 GDP was revised to 1.6% annualized and consumer spending rose 0.5% in April. The data suggest inflation remains elevated but cooling, keeping the Fed on hold for now, with markets pricing potential rate moves in early next year.
- Core inflation hit an annual rate of 3.3% in April, as expected, Fed’s preferred gauge shows CNBC
- US Consumer Spending Edges Up as Inflation Accelerates Bloomberg.com
- Iran War Lifts Fed’s Preferred Inflation Gauge to Highest Level Since May 2023 The New York Times
- Iran War Keeps Fed’s Inflation Gauge Above Inflation Target WSJ
- The first inflation report under new Fed chief Kevin Warsh is out — and it's not good CBS News
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