Elizabeth Frantz | ReutersIt appears the great inflation scare of 2024 is upon us.
The Fed's preferred measure of inflation, the core personal consumption expenditures price index, grew 2.8% from a year earlier in March.
The recent inflation numbers have reduced the expected number of cuts down to one or two, with the first cut anticipated to arrive much later this year.
Some recent signs of cooling emergeCommodity prices, like cocoa , coffee and copper , have been on a tear in 2024.
Despite all the military activity in the Middle East, oil prices have been reasonably well behaved, taking into consideration the energy shocks of years past.
Persons:
Jerome Powell, Elizabeth Frantz, –, specter
Organizations:
Federal, Committee, Reuters, Fed, Hamas
Locations:
Washington , U.S, Israel