Inflation gauge hits multiyear high as American consumer confidence slides
The U.S. economy just delivered a brutal one-two punch: April's Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, soared to a multiyear high of 4.2% year-over-year, simultaneously eroding already fragile American consumer confidence to its lowest point since late 2023. This twin blow intensifies pressure on the Fed and threatens a critical election cycle.













