U.S. Inflation Hits 3-Year High of 4.2%, Putting Fed on Track for December Hike

Kevin Warsh was brought in to cut rates. May’s inflation numbers are pointing the other way. U.S. consumer prices climbed 4.2% year-over-year in May, the Labor Department reported Wednesday, the highest reading in three years and the third consecutive monthly acceleration. The figure came in line with economist forecasts, which, at this point, is itself […] The post U.S. Inflation Hits 3-Year High of 4.2%, Putting Fed on Track for December Hike appeared first on the deep dive.