The inflation outlook among U.S. consumers dipped sharply in April, potentially ...
WASHINGTON - The inflation outlook among U.S. consumers dipped sharply in April, potentially complicating the job of Federal Reserve policymakers who hope the pace of price increases will soon rise toward their target level.
The outlook for inflation over the next three years also declined, to 2.69% from 2.86%, evidence that medium-term expectations have also weakened in recent weeks. The conflicting trends, of low unemployment and continued growth failing to generate expected levels of inflation, have anchored Fed officials in a wait-and-see posture, likely leaving interest rates on hold until some sort of shock to the economy changes its direction.
Following the Fed’s most recent meeting, Chairman Jerome Powell and others said they felt those weak readings were driven by “transitory” factors that would disappear over time and allow overall inflation to rise.
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