Price Inflation Growth Slowed Slightly in April. Now Wall Street Will Demand More Easy Money.

The federal government’s Bureau of Labor Statistics (BLS) released new price inflation data Wednesday, and according to the report, price inflation during April decelerated slightly, coming in at the lowest year-over-year increase in twenty-four months. According to the BLS, Consumer Price Index (CPI) inflation rose 4.9 percent year over year in April before seasonal adjustment.

Powell: We Made Mistakes

The formal recession has yet to be declared, and Powell is already offering apologies. Following last week’s rate hike amid the ongoing banking turmoil, during the Q & A session, the Fed Chair offered a sort of apology for recent events:

… I’ve been Chair of the Board for five plus years now, and I fully recognize that we made mistakes. I think we’ve learned some new things, as well, and we need to do better.