Oh no! Bad news. The consumer price index, a key inflation gage, rose 3.5% in March, higher than expectations and marking an acceleration for inflation. I believe the rate cut won't be so fast in 2024, probably towards the end of the year. 

Shelter and energy costs drove the increase on the all-items index. Energy rose 1.1% after increasing 2.3% in February, while shelter costs were higher by 0.4% on the month and up 5.7% from a year ago.

Following the report, traders pushed the first expected rate cut out to September.

A measure of underlying US inflation topped forecasts for a third straight month, heralding a fresh wave of price pressures that will likely delay any Federal Reserve interest-rate cuts until later in the year.

The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from February, according to government data out Wednesday. From a year ago, it advanced 3.8%, holding steady from the prior month.

Wednesday's report adds to evidence that progress on taming inflation may be stalling, despite the Fed keeping interest rates at a two-decade high. With a strong labor market still powering household demand, officials have been adamant they'd like to see more evidence that price pressures are sustainably cooling before lowering borrowing costs.

Treasury yields and the dollar jumped while S&P 500 index futures tumbled. Swaps traders slashed the degree to which they see the Fed will cut rates this year. For such, I believe primary indexs will suffer correction in short term $DJIA(.DJI)$  $S&P 500(.SPX)$  $Nasdaq100 Bear 3X ETF(SQQQ)$  

Policymakers have also been hesitant to cut interest rates given the strength of the labor market, especially after last week's jobs report showed robust hiring and the unemployment rate fell. 

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