🇺🇸 U.S. INFLATION SURGES: A BUMP OR TREND?
February's PCE index revealed a sharp increase in U.S. inflation, challenging the Biden administration’s hopeful notion that high inflation is under control.
Federal Reserve Chair Powell reportedly views the report as a bump in the road to recovery but has hinted at not cutting rates further in June as expected.
"We expect inflation to move down to 2% but on a path that is sometimes bumpy... We'll just have to wait and see."
Is this uptick in inflation a mere hiccup, or does it signal enduring economic pressures?
Will Powell's wait-and-see approach pan out?
Source: WSJ
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