From the Wall Street Journal's Nick Timiraos (gated):
- Federal Reserve officials were already leaning toward taking a summer vacation from interest rate increases to see if they have done enough to slow the economy and inflation .
- Wednesday’s inflation report makes that easier because it showed price pressures aren’t worsening and might soon be slowing as muted growth in rental-housing costs feed through to official inflation gauges.
I refer to Timiraos as a 'Fed insider' due to his apparent (pretty clear) leak of a Fed decision back in the middle of 2022.
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Earlier: