Fed's preferred inflation gauge shows price pressures stayed elevated last month
WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid. Friday's report from the government showed that prices rose 0. 3% from February to March, the same as in the previous month. It was the third straight month that the index has run at a pace faster than is consistent with the Fed's 2%...
Read MoreFri, 26 Apr 2024
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