Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
Cleveland Fed President Loretta Mester said she's in favor of raising interest rates quickly, but not so quickly as to disrupt the economic recovery.
Cleveland Fed President Loretta Mester said she's in favor of raising interest rates quickly, but not so quickly as to disrupt the economic recovery.
The PPI, which measures the prices paid by wholesalers, increased 11.2% from a year ago, the most in a series going back to November 2010.
Retail sales were expected to increase 0.6% in March, according to Dow Jones estimates.
Getting inflation under control will require raising interest rates at a faster pace than normal, Fed board member Christopher Waller said Wednesday.
Sharply higher mortgage rates are causing homebuyers to pull back, and homebuilder sentiment dropped as a result.
The consumer price index for March was expected to increase 8.4% from a year ago, according to Dow Jones estimates.
Consumer price inflation in March is expected to have risen the most since December 1981, driven by higher food costs, rising rents and runaway energy...
Worries are increasing over inflation, with new Federal Reserve data showing a record-high fear over surging prices.
Prices are rising at a dramatic rate in states including Georgia and Arizona, which will host two of 2022's most important midterm Senate races.