US inflation increases moderately; consumer spending boosts Q2 outlook

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Go back to US inflation increases moderately; consumer spending boosts Q2 outlook

No rate cuts by the Federal Reserve until 2025?

April 26, 2024 9:41 AM EDT

The CEO of one of the world's largest independent financial advisory and asset management organizations is warning that there's a legitimate risk of no US interest rate cuts by the Federal Reserve this year.

Nigel Green of deVere Group issued the caution as the Federal Reserve's primary inflation gauge, the core PCE (personal consumption expenditures) price index, rose to 2.7%, exceeding expectations of 2.6%. Core PCE inflation also reached 2.8%, surpassing the anticipated 2.6%.

"This data represents another blow for the Federal Reserve and its battle against inflation," comments the deVere CEO. "The latest reading from the Fed's preferred gauge, PCE,... More