U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated ...
WASHINGTON - U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated early in the second quarter.
Inflation surged in the first quarter amid strong domestic demand after slowing for much of last year. Economists are optimistic that prices will resume their downward trend this quarter as the labor market is cooling.Financial markets expect the Federal Reserve to start its easing cycle in September, though some economists believe the first interest rate cut could come in July.
The stock market is about to see a 10% correction, with further disinflation a 'pipe dream' and Fed rate cuts coming much later, Stifel says
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