Inflation Jumps Again: Fed Rate Cuts Pushed Further Into 2026

Consumer prices rose 3.8% year-over-year in April, up from 3.3% in March. That's nearly double the Fed's 2% target. With hiring still steady and inflation accelerating, the central bank has less room to cut rates. Markets had priced in cuts by late 2026; now that timeline looks shaky. The next two monthly reports will tell us whether this is a real shift or a blip.