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Happy Mother's Day, CPI and Fed Policy

Bulldog Financial Planning hopes you had a great mother's day this past weekend!

This week we received the latest CPI inflation announcement. April 2024 year over year CPI was 3.4% which is down from 3.5% in March 2024. The average of year over year CPI over the last three years is still 5.7%.

The April 2024 year over year CPI excluding food and energy costs was 3.6% which is lower than 3.8% in March 2024.

The fed has reiterated that their goal for inflation is 2% and that they do not have any plans to raise rates again before initiating their first rate cut which is anticipated to happen later this year.

They have begun to taper back the pace of their balance sheet reductions, i.e. fewer treasury bond maturities and more treasury bond buying. Read more from their latest FOMC minutes, dated May 1st 2024. This indicates that they are beginning to slow the pace of tightening.

Sources of Data :

U.S. Bureau of Labor Statistics, "News Release Table 1, April 2024"

Press Release: Federal Reserve issues FOMC Statement, dated May 01, 2024

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