Federal Reserve in United States
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Wholesale prices jump 1.1% in May as energy costs surge
The producer price index rose faster than economists expected, lifting annual wholesale inflation to 6.5%, its highest rate since November 2022
U.S. inflation rose to 4.2% in May, highest in three years
The consumer price index matched forecasts as energy prices jumped, while core inflation came in softer on a monthly basis
Job openings jump to 7.6 million, highest since May 2024
April’s JOLTS report showed stronger demand for workers but slower actual hiring, reinforcing a labor market with limited churn
Core PCE inflation rose 3.3% in April, matching forecasts
The Fed’s preferred inflation gauge showed softer monthly core price growth, but headline inflation still reached 3.8% from a year earlier
Forecasters see inflation surge worsening in coming months
The Philadelphia Fed’s Survey of Professional Forecasters sharply raised inflation estimates after April price data showed consumer and wholesale prices at multiyear highs
Bond market pushes for tighter Fed stance as Warsh takes over
Ed Yardeni says the 2-year Treasury yield is flashing concern that rates are too low to contain inflation, while Treasury Secretary Scott Bessent argues the latest price surge should fade