Fed’s Favorite Underlying Inflation Gauge Is Seen Cooling

By (Bloomberg) — The Federal Reserve’s first-line inflation gauge is about to show some modest relief from stubborn price pressures, corroborating central bankers’ prudence about the timing of interest-rate cuts.Most Read from BloombergEconomists expect the personal consumption expenditures price index minus food and energy — due on Friday — to rise 0.2% in April. That…

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