19:02
Inflation Rises in February, Likely Keeping Federal Reserve on Hold for Rate Cuts
In February, inflation met expectations. The Federal Reserve is likely to hold off on interest rate cuts. The stock and bond markets were closed for Good Friday.
February Inflation Meets Expectations, Keeping Interest Rate Cuts at Bay
Inflation in February rose in line with expectations, maintaining the status quo for the Federal Reserve's consideration of interest rate cuts. According to the central bank's primary gauge, the personal consumption expenditures price index (PCE), which excludes food and energy, saw a 2.8% increase over the last 12 months and a 0.3% uptick from the previous month. These figures aligned with estimates provided by Dow Jones.
Headline PCE Reading
When factoring in the volatile food and energy costs, the headline PCE reading showed a 0.3% increase for the month and a 2.5% rise over the 12-month period, consistent with the projected 2.5% but slightly below the anticipated 0.4% for the month.
Both the stock and bond markets were closed in observance of the Good Friday holiday. Stay tuned for further updates on this developing story.
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