The Consumer Price Index remained flat over the previous month and rose 3.3% over the prior year in May — a deceleration from April's 0.3% month-over-month increase and 3.4% annual gain in prices. Both measures beat economist expectations.On a "core" basis, which strips out the more volatile costs of food and gas, prices in May climbed 0.2% over the prior month and 3.4% over last year — cooler than April's data. Both measures also came in ahead of economist estimates.
The CPI report and Fed policy meeting have fallen on the same day just seven times since 2014, according to Bank of America.Stock markets are trading lower ahead of the highly anticipated Consumer Price Index report and the Federal Reserve's rate decision, both scheduled for release on Wednesday. Despite the uncertainty, JPMorgan Private Bank US Equity Strategist Abby Yoder remains bullish on the markets, buoyed by the tech sector's performance.
Legendary baseball coach and player Frank Robinson famously said, “Close only counts in horseshoes and hand grenades.” The Federal Reserve is living by that precept. -- Growth for global wind power is expected to slow this year as the industry faces struggles with rising costs, limited infrastructure and policy uncertainty.