0520 GMT - Easing by the Federal Reserve appears to be off the table, given the latest inflation readings, but rate hikes are also unlikely, Lazard's Ronald Temple says in a note. U.S. headline inflation--3.8% in April after 3.3% in March, and higher than analyst expectations of 3.7% in The Wall Street Journal's poll--highlights the pain being inflicted on U.S. consumers by the Iran war, with energy and food prices both rising meaningfully, the chief market strategist says. "Unfortunately, May CPI inflation is likely to be high as well," he says. With the average price of gas at $4.50 per gallon today versus the April average of approximately $4.00, gasoline alone is poised to contribute 40 bps to headline inflation, Temple says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
May 13, 2026 01:20 ET (05:20 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments