Fed's key inflation gauge cools as Americans rushed to buy cars ahead of Trump tariffs
1. Inflation gauge cooled, consumer prices rose 2.3% in March. 2. Consumer spending increased 0.7%, driven by early purchases before tariffs. 3. Core prices rose 2.6%, indicating inflation may rise again later this year. 4. Auto sales surged by 8.1% as consumers rushed to beat tariff impacts. 5. Economic growth contracted by 0.3%, reflecting the impact of rising imports.