Analysis: Hotter inflation fails to shake U.S. markets out of torpor, with Fed in driver s seat Reuters 2 hrs ago
By Karen Pierog
CHICAGO (Reuters) - Investors are not freaking out over a spike in U.S. inflation in the past two months, showing confidence that the Federal Reserve is deftly handling a rebound in economic growth even as it leaves markets guessing about how it defines transitory when it talks about price increases.
In fact, Wall Street s benchmark index inched to a record high after days of sideways trading, and U.S. Treasury yields eased after Thursday s Labor Department report showed the consumer price index (CPI) in May had its biggest year-on-year jump in 13 years.
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