"US Inflation Report Challenges Fed's Rate Cut Plans"

The Federal Reserve's goal of returning inflation to its 2% target faces challenges as the core PCE price index rose 0.4% last month and 2.8% from a year ago, complicating plans for interest rate cuts. While some view this as a temporary setback, others warn of rising recession odds and argue that the Fed won't be able to cut rates until June. Consumer spending fell in January, indicating a potential slowdown, prompting experts to advise patience in the Fed's approach to taming inflation.