Posted 4/10/2024, 6:35:00 PM
Fed Officials Saw Worsening Inflation Before New Data Showed Prices Rebounding
- Some Fed officials said at March meeting that inflation was likely worsening, before new data showed prices re-accelerated.
- Officials disputed view that January/February inflation was just temporary.
- Core inflation rose 0.4% from February to March, remaining elevated at 3.8% over past year.
- Persistently high inflation raises doubts that Fed will cut rates 3 times this year as projected.
- Strong March jobs data also suggests Fed may delay or forgo rate cuts to curb inflation.