Inflation Jumped 3.6% in April, the Fastest Pace in 13 Years
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The Federal Reserve's preferred price gauge is rising briskly at time when inflation dominates political and economic discussions.
But Gennadiy Goldberg, a rates strategist at T.D. Securities, said that because the inflation pickup is likely to fade with time, it makes more sense to focus on the acceleration in the headline index — and the overall takeaway there is that people are reopening their pocketbooks.

"That data is still going through stimulus, post-stimulus check volatility," Mr. Goldberg said. "Are consumers spending? I think the data is telling us that yes, they are."

The figures are the latest to underline that the economy is in for a bumpy ride as it reopens from months of state and local lockdowns meant to contain the coronavirus pandemic. The Fed, which is tasked with maintaining stable prices and is supposed to foster full employment, has signaled that it is…
Jeanna Smialek
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