The Fed raising interest rates could lead the economy to a recessionGeorgetown Professor Nada Eissa explains why she believes the Fed’s actions to get inflation under control will likely lead to a recession.Andrea Kramar and Yasmeen Qureshi, USA TODAYThe run-up in food prices is slowing down, but a new report is expected to show inflation remains higher than the goal the Federal Reserve says would signal price surges are under control.Data released today by the Department of Labor is projected to show consumer prices rose 5% in April as compared to a year earlier, the same rate as in March, according to the average forecast of economists surveyed by FactSet. On a monthly basis, prices are expected to have inched up 0.4%, a slight bump above the 0.1% uptick in March that was the slimmest in two years. Meanwhile, core CPI – seen as a better guide to long-term trends because it doesn’t count the volatile prices of food and energy – is projected to increase 0.3% over the previous month. For the year, it’s projected to be up 5.4%, down from 5.6% in March.  The Consumer Price Index will be released at 8:30 AM ET.  The core consumer price index is a measure of how consumer prices shift, not counting the costs of energy and food which are typically the most volatile components of the broader consumer price index. Economists expect the core consumer price index for April to show prices rose 0.3% over March, and 5.4%, year over year.   The Fed raised its key short term interest rate a quarter of a percentage point last week – its tenth rate hike in a row. But it signaled that it may pause further boosts as it waits to see if its string of rate increases, and the tighter lending standards imposed after the failure of Silicon Valley Bank, do their part to tame inflation. Silicon Valley Bank: The failure of the California institution rattled investors, consumers and regulators The Personal Consumption Expenditure price index, the Federal Reserve’s preferred measure of inflation, comes out on May 26. The next consumer price index report is scheduled to be released on June 13. The Federal Reserve’s target is an inflation rate of 2%. It has said that the 2% goal “is most consistent with the Federal Reserve’s mandate for maximum employment and price stability.”Stocks fell in pre-market trading Wednesday morning, ahead of the 8:30 inflation report. Dow futures declined 0.16%; S&P 500 futures eased 0.16% and Nasdaq futures edged down 0.17%In March, the inflation rate was 5% on an annual basis. The pace of price increases slowed for the ninth month in a row as prices at the pump and the grocery store declined.While the Consumer Price Index measures how average prices shift over time for various goods and services, the core consumer price leaves out the costs of energy and food which are particularly volatile. The Consumer Price Index (CPI) is a snapshot of how prices shift on average over time for a variety of products and services.The Fed and interest rates: The Federal Reserve raised its key rate but may push pauseBanks make it harder to borrow: Standards tightened after failure of Silicon Valley Bank