"Fed's Patient Stance on Inflation Bolstered by Tamer Data and Biden's Fiery Address"

The Federal Reserve's preferred measure of underlying US inflation, the core personal consumption expenditures price index, is expected to show a 0.3% increase in February, reinforcing the central bank's cautious approach to cutting interest rates. The overall inflation measure is forecast to climb 0.4%, the highest since September, indicating a faster pace of price growth. The report also projects stronger consumer spending growth and solid gains in personal income. Additionally, various economic releases from around the world, including inflation updates in Australia and Europe, may impact global currencies and central bank decisions.