The Fed’s Favorite Inflation Reading Spells Bad News For Interest Rate Cuts

The Federal Reserve’s preferred measure of inflation rose in April to an annual rate of 3.8%, according to a report from the Commerce Department published on Thursday.

For the past three months, inflation has risen from 2.8% in February to 3.5% in March, and up to 3.8% in April.

Part of the Federal Reserve’s mandate ...