Fed's favored inflation gauge shows price increases remained sticky in April

The latest reading of the Fed's preferred inflation gauge showed prices increased in line with Wall Street's expectations in April.

The report comes as markets have been adjusting to the prospect of the Federal Reserve holding interest rates higher for longer than initially feared. As of Friday morning, investors were pricing a roughly 50-50 chance the Fed's first interest rate cut comes in September, Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, slumped before the opening bell Friday after former President Donald Trump was convicted in his hush money trial.Immediately after a New York jury found Donald Trump guilty on all 34 felony counts of falsifying business records on Thursday—making him the first president to be a convicted criminal—Fox News described the verdict as “warfare” while descending into full freakout mode.

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Inflation expected to tick down in April as Fed officials weigh rate cutsApril's CPI report is one of the most important data points the Federal Reserve will consider in its next interest rate decision.
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