The Fed's preferred inflation gauge, the PCE index, showed that price growth eased in April as inflation numbers trended closer to the central bank's target.

Key Takeaways Members of the Federal Open Market Committee grappled with uncertainty about trade policy and the trajectory of the economy ahead of their decision to keep interest rates steady in May,

Economists had expected the personal consumption expenditures index to tick down slightly to 2.2% from the month before.

U.S. Federal Reserve policymakers could still cut interest rates twice this year as they projected in March, San Francisco Fed President Mary Daly said on Thursday, but for now rates should remain steady to make sure inflation is on track to reach the central bank's 2% goal.

The Fed hasn't adjusted interest rates this year, and isn't expected to make a move for months. Yet today's highest CD rate is better than you could score last week.

The Federal Open Market Committee (FOMC) will release the Minutes of its May 6-7 meeting on Wednesday. Back then, policymakers decided to keep the Fed Funds Target Range (FFTR) unchanged at 4.25%-4.50%, as widely anticipated by market participants.

Since the 30-year mortgage rate closely tracks the 10-year Treasury yield, we generally see higher rates for h