WASHINGTON, March 29 (Reuters) – Federal Reserve Chair
Jerome Powell on Friday will update his views on U.S. inflation
and the economy following the release of data showing price
increases running faster than the central bank chief last week
anticipated.
Government data showed the personal consumption expenditures
price index increased at a 2.5% annual rate in February, up from
2.4% the month before. Notably the number excluding volatile
food and energy prices rose 0.3% on a month to month basis,
counter to Powell’s expectation last week that the figure would
be “well below” 0.3% and remain in line with the Fed’s outlook
for inflation to continue slowing to the Fed’s 2% target.
Some details of the report, economists noted, did show
improvement in aspects of inflation that the Fed considers
particularly important, even as the headline numbers have…
