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Huey » 15 Mar 2024, 11:06 am » wrote: ↑

15 Mar 2024, 11:06 am

Key inflation gauge hits highest level since September ahead of Fed meeting
By Associated Press
Published March 14, 2024, 1:51 p.m. ET

Wholesale prices in the United States accelerated again in February, the latest sign that inflation pressures in the economy remain elevated and might not cool in the coming months as fast as the Federal Reserve or the Biden administration would like.The Labor Department said Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.6% from January to February, up from a 0.3% rise the previous month.

 Measured year over year, producer prices rose by 1.6% in February, the most since last September.
 The figures could present a challenge for the Fed, which meets next week and is counting on cooling inflation as it considers when to cut its benchmark interest rate, now at a 23-year high.

 The Fed raised rates 11 times in 2022 and 2023 to fight high inflation.

https://nypost.com/2024/03/14/business/ ... d-meeting/

But....But...But...the economy is great, says Retardo Smarmy....