Personal Consumption Expenditures (February 2024)
Inflation continues to inch closer to the Fed’s 2% target as its favored measure, annual Core PCE, fell to 2.8% for the 12 months ending in February. While this was below 2022’s 5.6% peak and the lowest level since March 2021, progress has been slowing. How will this impact the Fed’s timing for cutting rates this year?
