1445 ET - After a better-than-expected CPI report this morning, some economists are penciling in a March 12-month core PCE inflation rate of 2.6% or so, a potential improvement from 2.8% in February. Chicago Fed President Austan Goolsbee says, however, that it will be important for the central bank to focus on the most recent monthly data -- and where inflation is heading next -- when it considers its next move at the May meeting. "What matters is not the 12 months looking backwards," Goolsbee says to reporters in New York City. He notes that the most recent 12-month inflation numbers include a period from last year when monthly inflation was cooling significantly, and before tariffs were looming imminently as a new source of additional inflation pressure. (matt.grossman@wsj.com; @mattgrossman)
(END) Dow Jones Newswires
April 10, 2025 14:46 ET (18:46 GMT)
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