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Hot prices: Inflation rose to 3.5% in March in bad news for Biden and Fed

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mystery-ak:
Hot prices: Inflation rose to 3.5% in March in bad news for Biden and Fed
By
Zachary Halaschak
April 10, 2024 8:33 am
.

Inflation rose to 3.5% for the year ending in March, the Bureau of Labor Statistics reported Wednesday in an update to the consumer price index.

The rise in headline inflation is more than expected and an unwelcome development for the Federal Reserve, which has been aiming to move toward cutting interest rates in the coming months. It’s also bad news for President Joe Biden. The White House has been emphasizing recent declines in inflation, alongside the robust labor market, as “Bidenomics” in action.

The Fed has worked to drive down inflation for two years now by raising interest rates. Wednesday’s report casts uncertainty over the timing of the Fed beginning to trim rates.

On a month-to-month basis, inflation rose 0.4%, more than expected.

“There is no improvement here; we’re moving in the wrong direction,” said Greg McBride, chief financial analyst at BankRate. “The usual trouble spots persist — shelter, motor vehicle insurance, maintenance, and repairs, services costs. Add electricity to that list, up 0.9% in March and 5% over the past year.”

“Core inflation,” which doesn’t include volatile food and energy prices, remained at 3.8% for the year ending in February. Overall, core inflation has largely trended down this year in an indication that the Fed’s tightening is working.

more
https://thehill.com/business/personal-finance/4583123-march-2024-consumer-price-index-inflation/

LMAO:
And nothing is going to change until there is a real serious effort to address our unsustainable fiscal and monetary policy

Some here get sick of some of us preaching this over and over again, but it’s our only way out. Without a change, forget it


And just yesterday Yellen was telling us how inflation was coming down to 2%

I guess inflation disagreed with her


These people are so inept it hurts

240B:

Inflation unexpectedly rises to 3.5% - plunging Dow Jones down 450 points and all but ruling out a summer cut to interest rates

DAILYMAIL.COM and REUTERS
By HELENA KELLY
10 April 2024

* The rate of annual inflation rose to 3.5 percent in March, new data shows
* Prices were pushed up by the cost of shelter and vehicle insurance
* The Dow Jones plummeted 500 points within minutes of the news(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-13292743/Inflation-upticks-slightly-3-5-analysts-expectations.html

DefiantMassRINO:
Inflationary energy policy + inflationary fiscal policy = record gold prices

Wingnut:

--- Quote from: 240B on April 10, 2024, 02:48:00 pm ---Inflation unexpectedly rises to 3.5% - plunging Dow Jones down 450 points and all but ruling out a summer cut to interest rates

DAILYMAIL.COM and REUTERS
By HELENA KELLY
10 April 2024

* The rate of annual inflation rose to 3.5 percent in March, new data shows
* Prices were pushed up by the cost of shelter and vehicle insurance
* The Dow Jones plummeted 500 points within minutes of the news(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-13292743/Inflation-upticks-slightly-3-5-analysts-expectations.html

--- End quote ---

The market will make those up in a few days when the panic sellers have  lost their shit

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