See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Inflation held steady at 2.7% in April in Fed’s preferred gauge

Posted on AllSides May 31st, 2024
From The Right

Inflation held steady at a 2.7% annual rate in April, as measured by the gauge favored by the Federal Reserve.

The new personal consumption expenditures price index numbers reported Friday morning by the Bureau of Economic Analysis were in line with forecasts.

The lack of downward progress in headline inflation is unwelcome news for President Joe Biden and the Fed, which has been seeking more evidence that its campaign to lower inflation by raising interest rates is working. The Fed’s target is 2% inflation in the PCE index.

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right