Fed’s inflation gauge jumps again, pressure on Warsh

The Federal Reserve is back under “inflation siege” as its preferred price gauge surges to the highest level in nearly a year, dealing a major blow to market expectations for imminent interest rate cuts, according to the chief executive of a leading financial advisory. April PCE inflation rose to 3.8%, the highest since May 2023, while core PCE climbed to 3.3%, its strongest reading since October last year. Both measures now sit far above the Fed’s 2% target and land at a defining moment for newly installed Fed Chair Kevin Warsh. “The inflation rebound leaves the Federal Reserve facing a The post Fed’s inflation gauge jumps again, pressure on Warsh appeared first on Financial Mirror .

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