"This is not a good economic environment. Inflation is rising and the Fed is hiking interest rates. Housing prices are on the moon and rent is too damn high"
A measure that the Federal Reserve focuses on to gauge inflation rose at a robust pace in March, likely cementing the central bank’s intention to raise interest rates by half a percentage in May.
The core personal consumption expenditures price index, which measures costs that consumers pay across a wide swath of items increased 5.2% from a year ago, according to the Bureau of Economic Analysis.
That was slightly below the 5.3% reading in February, which was the highest reading since April 1983.
That was less than the 5.3% Dow Jones estimate. On a month-over-month basis, prices rose 0.3%, in line with the estimate.
Including volatile food and energy prices, the PCE index accelerated by 6.6%, the fastest pace since January 1982. Headline inflation was up 0.9% from February, much faster than the previous 0.5% increase.