US inflation rises to 3.4%, reducing chances of June rate cut by Fed

From Forbes: 2024-05-15 15:32:36

The US inflation rate rose to 3.4%, fueling speculation about a potential Fed rate cut. The Bank of England maintained the 5.25% rate, awaiting further inflation data due on May 22 for a potential June cut. The Fed signaled higher rates for longer due to stubborn inflation, currently at 3.5% in the US.



Read more at Forbes: US Prices Data Reduces Likelihood Of June Rate Cut – Forbes Advisor UK