"February's Rise: Key Fed Inflation Gauge and Consumer Spending"
TL;DR Summary
The Federal Reserve's key inflation gauge, the personal consumption expenditures price index (PCE), rose 2.5% annually in February, in line with expectations, while consumer spending spiked 0.8% last month, surpassing projections. The Fed left interest rates unchanged at 5.25% to 5.50% and anticipates three rate cuts this year, with financial markets expecting the first cut in June. Stubborn inflation has led to lowered expectations for interest rate cuts, prompting the Fed to closely monitor economic data before making any decisions.
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- US inflation ticked higher last month, reversing some recent progress CNN
- Fed's Favored Inflation Gauge Rose 2.5% in February The Wall Street Journal
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