(Bloomberg) — The latest marker of underlying US price pressures will offer little hope of settling the debate among Federal Reserve officials about whether they’ve made enough progress on inflation to step off the monetary-policy brakes.
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The Fed’s preferred price metrics on Friday are projected to show inflation remained elevated in April, running more than double the central bank’s goal. Minutes of its early-May meeting on Wednesday may help shed some light on officials’ appetite for standing pat next month.
Various Fed officials this week have indicated they’re keeping an open mind as they assess economic data as well as stress in the banking sector. Lorie Logan, head of the Dallas Fed, said she’s not yet convinced that officials should skip a rate hike next month, while Governor Philip Jefferson said patience is in order.
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