Inflation eased to 4-year low
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Chicago Fed chief Austan Goolsbee called the April inflation report 'comforting' but said he needs to see several more as officials consider rate cuts
Tamer-than-expected inflation and a significant de-escalation of a U.S.-China trade war are easing fears of a sharp squeeze on American households and businesses in coming months, prompting Wall Street firms to pare predictions of a recession and giving the Federal Reserve room to leave interest rates where they are.
Inflation picked up speed in April after declining in March, according to data released Tuesday by the Labor Department. Economists expected price growth to pick up again amid deepening concerns about the impact of President Trump’s trade agenda,