Inflation Jumps in March, Stoking Fears of Prolonged High Prices and Slowing Growth

• Inflation persisted and rose in March, contradicting claims of a soft landing and derailing hopes for Fed rate cuts this year

• Core inflation also rose more than expected, driving stock market down and bond yields up

• Prices up 20% for most Americans compared to pre-pandemic, while wages haven't caught up

• High interest rates making loans tougher to obtain, usually signaling economic slowdown, but economy still running hot

• Bad news for Biden reelection as consumers lose confidence, connecting economic and foreign policy struggles to detached president