
Inflation ticked higher last month, reversing recent progress
CNN
It’s not a Good Friday for the Federal Reserve.
It’s not a Good Friday for the Federal Reserve. The central bank’s preferred inflation gauge, the Personal Consumption Expenditures price index, was up 2.5% for the 12 months that ended in February, a faster pace than January’s 2.4% rise in prices. The Commerce Department data released Friday means the Fed is even further from achieving its goal of 2% inflation. Central bankers will likely take some solace in the core PCE index that excludes energy and food. That index slowed slightly to 2.8% from the 2.9% annual rate seen in January. And, on a monthly basis, it slowed to 0.3% from 0.5% in January. This story is developing and will be updated.

It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.