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So head to Net Suite.com slash Wall Street right now. Hotter than expected inflation in March could upend the Fed's plan to cut rates.

There's not just a rethink now around June versus July, but you're beginning to see a rethink

about well maybe it's not going to be three rate cuts this year, maybe it's only

going to be one or two and maybe it doesn't happen until the end of the year.

And audit firm KPMG is hit with a record fine.

Plus a Wall Street Journal scoop.

Several directors at Paramount will be stepping down amid merger talks.

It's Wednesday April 10th.

I'm Am Marie Fartoli for the Wall Street Journal.

This is the PM edition of What's News,

the top headlines and business stories that move the world today.

For the past few months, we've been talking about just when the Federal Reserve will start cutting interest rates.

Today we got some news that's quite likely to push the Central Bank's timeline further down the road.

Inflation it came in hot last month.

The Labor Department says the Consumer Price Index, which measures

goods and services across the economy, rose 3.5% from a year earlier.

That was higher than economists anticipated, and it marked a pickup from February.

All three major U.S. stock indexes ended the anticipated and it marked a pickup from February.

...