Fox Business
20 May 2026, 20:51 UTC · 1d ago
Source · https://www.foxbusiness.com/economy/high-energy-prices-risk-keeping-inflation-above-2-target-concerning-fed-policymakers
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The Fed's preferred inflation gauge (PCE) jumped to 3.5% in March from 2.8% in February. — A significant acceleration in inflation well above the 2% target strongly reduces the likelihood of imminent rate cuts.
-0.80A majority of FOMC participants suggested that further policy firming (rate hikes) would be appropriate if inflation remains persistently above 2%. — The explicit mention of potential rate hikes creates a hawkish shift that negatively affects equity and bond valuations.
-0.70Middle East conflict and the Iran war have pushed oil prices toward or above $100 per barrel, causing gas prices to surge 43% year over year. — High energy costs act as a tax on consumers and a primary driver of cost-push inflation, hurting overall economic growth.
-0.60Three FOMC members dissented against including language that suggested a bias toward easing interest rates. — Internal division and pushback against rate cuts signal a more restrictive monetary stance for longer.
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The article suggests that Nvidia's earnings are taking a 'back seat' to the broader threats of oil and gas inflation.
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