Report: High inflation in the United States sparks calls for interest rate hikes, though such a move is unlikely

By the end of April, the year-on-year increase in consumer prices reached 3.8%, higher than the expected 3.7%. Meanwhile, other indicators show that the economy remains resilient. Weinand said: "Recent inflation and employment data suggest that the next step for the Federal Reserve should be to raise interest rates, not lower them." However, this is not easy for the Federal Reserve. He said, considering the pressure faced by incoming Chair Warsh, "we believe it is unlikely to raise interest rates."