Consumer price inflation was expected to have increased at a pace of 1.9% in May, slower than in April and below the Federal Reserve’s 2% target. There is much focus on the 8:30 a.m. ET inflation report Wednesday because the Fed has indicated it could move to cut interest rates at some point this year, if warranted, and a low inflation reading could spark speculation it would be sooner rather than later. A higher reading of inflation would have the opposite effect and dim expectations for a rate cut, which market players are betting could happen in July and then again later in the year. Economists expect the Consumer ... (full story)