Inflation barely budged in April as tariffs President Donald Trump implemented in the early part of the month had yet to show up in consumer prices, the Commerce Department reported Friday.

San Francisco Federal Reserve Bank President Mary Daly said on Friday cooling inflation offers "relief" for Americans suffering from high prices, but that there are risks of higher inflation ahead.

The Federal Reserve’s preferred inflation gauge came in mostly in line with expectations in April, offering a small sign of progress in the central bank’s fight to bring price pressures under control.

A cooler inflation reading from the month when President Trump's tariffs went full blast likely won't shake the Federal Reserve's stance of holding interest rates steady. The reason: Policymakers still expect price increases later in 2025.

Inflation has edged down, but high housing costs could spark a fresh rise in prices and keep the Fed from cutting rates, Stifel's top economist said.

The cost of living barely rose in April — and the rate of inflation slowed even closer to prepandemic levels — but it’s unclear whether the recent progress can be sustained as the trade wars drag on.

A recent survey from Schroders showed the degree to which inflation is weighing on the minds of retired Americans.

Investors are winding down a volatile but winning week as President Trump’s trade war continues with China in the crosshairs, Elon Musk officially ends DOGE duties, U.S. Steel, Nippon Steel deal proceeds.