"US inflation held steady in February as economists expected, with prices rising 2.4% over the year, new consumer price index data showed. CPI rose 0.3% over the month, matching the forecast and above the previous 0.2% increase. Core CPI, which excludes volatile food and energy prices, rose 2.5% over the year, as expected and as it did in January."
"The Federal Open Market Committee members will meet next week to decide on interest rates for the second time this year. They held rates steady in January, and experts and traders expect the same outcome this month. There's nearly a 100% chance of another hold based on CME FedWatch, which shows market-based chances of the Fed's decision."
"Data published on Friday showed that an unexpectedly weak February jobs report didn't move the chances much. The US lost 92,000 jobs last month, with net losses of over 20,000 in the healthcare sector and leisure and hospitality. Healthcare's decline was a reversal of its previous strength that had helped support the job market."
February's consumer price index data showed inflation holding steady at 2.4% year-over-year, with monthly CPI rising 0.3% as expected. Core CPI, excluding food and energy, increased 2.5% annually and 0.2% monthly, cooling from the previous month's 0.3% increase. The Federal Open Market Committee will meet next week to decide on interest rates, with market expectations showing nearly 100% probability of maintaining current rates. However, a weak jobs report released Friday showed the US lost 92,000 jobs in February, with significant declines in healthcare and leisure sectors. Healthcare employment fell due to a Kaiser Permanente strike, reversing the sector's previous strength. Economists note employers are hiring considerably less than in previous years, creating challenging conditions for job seekers.
Read at Business Insider
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