US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes.
“The next CPI report... will likely keep the Fed on a trajectory of 50-basis-point hikes beyond July, even though the economy is cooling.” - Bloomberg
US Inflation Quickens to 40-Year High
