Date: 2023-05-26T16:31:30Z Creator: Bitfolio Academy
The Fed has been relentless in raising interest rates, but the relentless tide of rising inflation refuses to be beaten! In April, the PCE, the Fed’s favored inflation gauge, surged to an alarming 4.4% – up from 4.2% last month! Core inflation is on the rise, too, rocketing up 0.4%.
Clearly, the Fed is going to have to take action and opt for another interest rate hike. After weeks of suggesting a potential pause, it’s starting to look like the Fed will have to raise rates for an 11th consecutive time. Even though inflation had been going in the right direction until recently, it’s now headed upwards!
A decline in economic growth and the soaring cost of borrowing is not killing inflation. Biden and McCarthy must craft some sort of deal to save us from the brink and keep our economy from crashing further.
Let me know in the comments. 🤔
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#economy #cpi #cnbc #2023