"US Inflation Rises to 2.8% Annually, Fed Chair Powell to Address Concerns"
TL;DR
The core PCE price index, a key Federal Reserve inflation measure, rose 0.3% in February, keeping a June rate cut on the table. Fed chair Jerome Powell's prediction of the monthly increase proved accurate, with the 12-month inflation rate at 2.8%. Personal income rose 0.3%, while personal consumption expenditures increased 0.8% in February. Market pricing shows 64% odds of a rate cut by the June 12 meeting, with 70% odds of three quarter-point rate cuts by year-end 2024.
- Key Fed Inflation Rate Is Just A Bit Hot; Chair Powell On Tap Investor's Business Daily
- Key Fed inflation gauge rose 2.8% annually in February, as expected CNBC
- PCE Inflation Report Today: Headline Numbers, Core Data, Consumer Earnings and Spending, and What Else to Expect Barron's
- US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate The Associated Press
- Inflation ticked higher last month, reversing recent progress CNN
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