Stagflationary pressures are building in the US manufacturing sector. Powell: “Energy hasn’t even peaked yet, and we’d want to see the backside of that and progress on tariffs before we even thought about reducing rates”
ISM manufacturing prices paid index spiked to 84.6 points in April, a 4-year high. Over the last 3 months, prices paid have SKYROCKETED over 20 points, marking one of the biggest spikes in history. Meanwhile, the employment index dropped to 46.4 points, the lowest level in 2026. Employment has now been contracting for 15 months …