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Fed Minutes and Data, Congress on Break

This week combined the release of the minutes of the Fed’s Federal Open Markets Committee (FOMC) from early February with the release of the Fed’s preferred inflation number, the Personal Consumption Expenditures price measure. The PCE climbed 5.4 percent in January, basically the same as the gain of 5.3 percent the prior month. The January inflation numbers, combined with the release earlier in the week of the minutes from the FOMC meeting on 1/31-2/1, point towards another increase in rate

This week combined the release of the minutes of the Fed’s Federal Open Markets Committee (FOMC) from early February with the release of the Fed’s preferred inflation number, the Personal Consumption Expenditures price measure. The PCE climbed 5.4 percent in January, basically the same as the gain of 5.3 percent the prior month. The January inflation numbers, combined with the release earlier in the week of the minutes from the FOMC meeting on 1/31-2/1, point towards another increase in rates when the FOMC meets next month on March 20/21.

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