Date: 2023-06-13T14:36:15Z Creator: Bitfolio Academy
The Federal Reserve is predicted to hit the brakes on interest rate hikes tomorrow, June 14th, after the CPI reveals a more favorable outlook. Food prices climbed 0.2% in May, and shelter and transportation costs also rose. But overall, the CPI only surged 0.1% in May – noticeably slower than the 0.4% rate in April. All eyes are on the CPI, which stands at 4%, the slowest rate of increase in two full years.
The stock market is reacting favorably to the new CPI numbers. The S&P500 is seeing a considerable increase of 1% this morning, as investors look ahead to the Federal Reserve’s decision regarding interest rates tomorrow.
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