Tensions in the Middle East and a stronger than expected Consumer Price Index (CPI) report put pressure
on the markets this week. The headline March CPI reading came in at 3.5% versus an expectation of 3.4%.
This was an increase from last month’s reading of 3.2%. Core CPI, which excludes food and energy, rose
3.8%, also above expectations. This bump up in inflationary pressures has the market lowering expectations
of any Fed rate cuts in the near future.