CPI data ‘not good enough to stop the Fed' from raising rates next week
Analysts believe that the February consumer price report was not good enough to stop the Federal Reserve from hiking next week.
"Even in light of the collapse of California's Silicon Valley Bank, economists said Tuesday that the U.S. consumer price inflation data for February released Tuesday hardens expectations for the Federal Reserve to raise its benchmark interest rate by a quarter percentage point next week."
Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that the data was not good enough to stop the Fed from hiking next week.