Jefferson said he regarded the labor market as still "solid," and felt that the slight contraction in U.S. economic output over the first three months of the year was distorted by import data that overstated the degree to which the economy was slowing.

Investors are betting that the Federal Reserve is likely to keep interest rates on hold in the near term following another inflation reading that didn’t make things any easier for the central bank.

The U.S. Federal Reserve has adopted a wait-and-see stance on the economic fallout from Trump's tariff campaign before cutting interest rates again. Traders currently price in about 50 basis points of rate reductions between now and the end of the year, according to LSEG data, with the next quarter-point cut seen in September.

US consumer prices rebounded moderately in April, but inflation is likely to pick up in the months as tariffs boost the cost of imported goods. US consumer prices rebounded moderately in April ...

Live Updates Live Coverage Updates appear automatically as they are published. S&P 500 Upward Revision 10:45 am by Gerelyn Terzo The S&P 500 full-year 2025 target revisions are rolling in. Most recently,

Romanian inflation remained unchanged last month as the gravest political crisis since the collapse of communism pushed the leu to a record low which will likely intensify price pressure and complicate the central bank’s wait-and-see approach to monetary policy in the coming month.

Chicago Fed chief Austan Goolsbee called the April inflation report 'comforting' but said he needs to see several more as officials consider rate cuts