With Inflation Unrelenting, Fed On Track To Raise Interest Rates to 17-Year High
An index that is closely followed by the Fed, which excludes volatile food and energy costs to capture ‘core’ inflation, jumps 4.6 percent from a year earlier.
WASHINGTON — Pressure on prices and wages failed to relent in March, keeping the Federal Reserve on track to raise interest rates next week for the 10th time since March of last year in its drive to defeat high inflation.
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