US PCE inflation rises to 3% in February; spending
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- U.S. PCE price index rose to a 3% annual rate in February, the Fed’s preferred inflation gauge (Reuters).
- Consumer spending remained solid, supporting the economy despite higher inflation (Reuters).
- CPI report is expected to show inflation near 2024‑level rates as gas prices surge (CNBC).
- Wage gains have outpaced inflation for almost three years, cushioning household budgets (CBS News).
- War with Iran looms, adding geopolitical risk to the inflation outlook (Reuters).
Why it matters: Higher inflation could push the Fed to keep rates elevated, affecting borrowers and investors through Q3 2024.
