Inflation likely remained stubbornly high in April as price pressures continue to squeeze household budgets despite Federal Reserve interest rate hikes.
Former Kansas City Federal Reserve Bank President and CEO Thomas Hoenig joined ‘Mornings with Maria’ to discuss the Federal Reserve’s forthcoming rate hike decision.
Economists expect the consumer price index, which measures a basket of goods, including gasoline, health care, groceries and rent, to show that monthly prices rose 0.4% in April, up from the increase of 0.1% recorded the previous month. On an annual basis,to have climbed 5%, unchanged from March but down from a peak of 9.1% in June.
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