US inflation just hit the lowest in almost 2 years, throwing further Fed rate hikes into question. Here's how President Joe Biden, Paul Krugman, David Rosenberg, and 4 others reacted.

• US inflation has cooled to its slowest pace since May 2021, casting doubt on further Fed interest-rate hikes. 
• Annual gains in the Consumer Price Index declined to 4.9% in April, according to data released Wednesday.
• Here's what President Joe Biden, Paul Krugman, David Rosenberg, and others have said about the latest print. 

Investors got a reason to rejoice this week as a report showed US inflation cooled for a 10th straight month in April, coming in lower than economists had estimated.

Annual gains in the Consumer Price Index declined to 4.9% last month, the slowest rate since May 2021 and less that the expected 5%. The rate has declined every month since hitting a 40-year high of 9.1% last June.