"US Inflation Rises 2.8% Annually, Bullish Stocks Narrative Intact"
TL;DR Summary
The February core PCE inflation report confirms that inflationary pressures are building, with durable goods prices rising for two months and service inflation likely to stay elevated due to a strong labor market. This suggests that the January inflation spike is not just a temporary issue. As a result, the Fed is unlikely to cut interest rates in June, and the stock market could experience a significant correction if the March CPI report confirms the building inflationary pressures.
- PCE Report: The "Inflation Bump" Just Got Bigger (SP500) Seeking Alpha
- Key Fed inflation gauge rose 2.8% annually in February, as expected CNBC
- US inflation moderating; consumer spending underpinning economy Reuters
- US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate The Associated Press
- Bullish Stocks Narrative Seen as Intact After US Inflation Data Bloomberg
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