The U.S. inflation rate has reached a 3-year high, potentially reinforcing market expectations of a Fed rate hike later this year.
BlockBeats News, June 25th, the U.S. inflation rate for May surged to 4.1%, reaching the highest level in over three years, while consumer spending increased by 0.3%, demonstrating demand resilience. At the same time, first-quarter GDP was also revised up to 2.1%. Analysts pointed out that this stronger data is likely to enhance the market's expectation of the Federal Reserve raising interest rates later this year.
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