Traders See 8.6% U.S. Inflation Ahead of Fed's May Meeting As Expectations May Be Turning Entrenched

MW: Derivatives-like instruments known as fixings imply that the headline, year-over-year consumer-price index gain for March and April will be 8.6%, up from a 40-year high of 7.9% in February. Only the March reading will be available to Fed officials by the time of their May 3-4 meeting; April’s data isn’t set to be released until the following week.

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