Inflation Eases But Remains Above Fed's 2% Target; Rising Rents and Gas Prices Keep Prices Elevated

• Annual inflation has eased from 9.1% two years ago but remains stubbornly above 3% currently • Beating the last bit of inflation is proving difficult, like losing the final pounds when trying to lose weight
• Inflation rose 3.5% in March, slightly hotter than expected • Factors keeping inflation above 3% include rising rents, car insurance costs, and increasing gas prices • Investors now expect fewer than 3 Fed rate cuts this year and first cut potentially in June or July