CNN —
Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates. But stubborn inflation now has some investors wondering about the exact opposite: a rate hike.
Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July. But recent economic data shows there hasn’t been much improvement this year.
Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from
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