OAN’s Alicia Summers
3:27 PM -Thursday, April 11, 2024
The Producer Price Index, which tracks wholesale-level inflation, edged up to 2.1%, marking the biggest jump since April 2023. This, after Consumer Inflation rose for the third straight month to 3.5%. Essentials like food, energy, and housing are hitting Americans hard as well. According to Redfin, rents rose for the third straight month. Mortgage rates increased to 7.29%, as reported by ‘Mortgage News Daily’. The Fed has been attempting to bring inflation down with high interest rates. However, with the latest inflation and jobs numbers, many are questioning whether those anticipated rate cuts will happen this year. Ed Siddell, CEO & Chief Investment Advisor at EGSI Financial, joins OAN’s Alicia Summers.