A clearance sign is displayed at a retail clothing store in Downers Grove, Ill., Monday, April 1, 2024. On Friday, April 26, 2024, the Commerce Department issues its March report on consumer spending. (AP Photo/Nam Y. Huh)
April 26, 2024
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April 26, 2024 8:55 a.m.
Fed's preferred inflation gauge shows price pressures stayed elevated last month
WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid.