Fed Divided on Whether to Pause June Rate Hike as Inflation Persists

Consumer spending rebounded in April despite rising prices, indicating economic resilience.
Inflation rose in April according to the Fed's preferred measure, reviving the case for higher interest rates.
The Federal Reserve is split over whether more rate hikes are needed to curb stubborn inflation.
Policymakers are weighing risks of overtightening as some see signs of moderating price gains.
The Bank of England may raise rates further, even at the cost of recession, to meet its inflation target.