Good morning.
Friday in Whitewater will be cloudy with evening showers and a high of 60. Sunrise is 5:53 and sunset 7:51 for 13h 57m 12s of daytime. The moon is a waning gibbous with 93.5 percent of its visible disk illuminated.
On this day in 1865, Union cavalry troopers corner and shoot dead John Wilkes Booth, assassin of President Abraham Lincoln, in Virginia:
Asking that his hands be raised to his face so that he could see them, Booth uttered his last words, “Useless, useless,” and as dawn was breaking he died of asphyxiation as a result of his wounds
Jeanna Smialek and Ben Casselman report Stubborn Inflation Could Prod Fed to Keep Rates High for Longer:
The Federal Reserve’s most closely watched inflation measure remained stubborn in March, the latest evidence that price increases are not fading as quickly as policymakers would like, and another reason that interest rates may stay higher for longer.
Investors came into 2024 hopeful that Fed officials would cut rates substantially this year, but those hopes have been fading as inflation has shown much more staying power than expected. Wall Street increasingly sees lower rates coming much later in the year, if the Fed manages to cut them at all.
The latest Personal Consumption Expenditures index reading could keep the Fed on a cautious path as it considers when to lower borrowing costs.
The overall inflation index rose by 2.7 percent in the year through March, up from 2.5 percent in February and slightly more than economists had expected.
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Investors are now betting that the Fed might make its first move in September or later, based on market pricing, and a small but growing share think that it may not manage to cut rates at all this year.
Massive fire burns at Oceanside Pier in California: