May CPI keeps Fed hawkish, WSJ's Timiraos says rate hike debate is back on the table

WSJ reporter Nick Timiraos wrote on June 10 that May's CPI did not clarify the Fed's next move: core inflation cooled modestly, but higher overall readings and stronger demand kept the case for patience high. He said price pressures now reflect energy shocks, AI driven capex and wealth effects, widening the debate from higher for longer to reconsidering hikes.