Fed on Hold in June, but Likely to Edge Toward a Taper Discussion; ECB Likewise on Hold Despite Improving Data
The consumer price index for all urban consumers rose 0.6% in May vs 0.5% expected and 0.8% in April. In year-over-year terms, CPI inflation accelerated to 5.0% in May from 4.2% in April and was the highest since August 2008. But since consumer prices fell last April and May as the economy entered free-fall, the …
