With this week chock-full of economic reports, Friday's hot reading on inflation further muddies the Fed’s March interest rate decision.
Friday’s data showed the consumer price index rise to 2.2%, the biggest rise in over four years, and above the Fed’s 2% target, Reuters reports.
The Fed went into 2016 ready to hike rates three or four times—then the markets had the worst January in seven years, and those plans looked set to fall through.
However, with strong January wage growth and employment numbers, and now hot inflation data, all eyes will be on this week’s reports as predictors of the Fed’s next move. [Reuters]
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