SFS Insights: Inflation Getting Closer to Fed's Target
- The annual inflation rate in April slowed to 4.9%, the rise still mostly driven by housing costs. The annual rate of inflation fell below 5%, the first time since mid-2021. Housing costs continue to be the largest contributor to inflation.
- April inflation metrics all but confirm expectations that the Federal Reserve (Fed) will not hike rates next month and as inflation and the economy slows further in the coming months, the Fed could justify an outright cut in rates.
