“Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago”

“…

• The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected.
• Headline PCE, including the volatile food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, also in-line.
• Personal income rose 1%, well above the forecast for 0.3%. Spending decreased 0.1% versus the estimate for a 0.2% gain.
• Initial jobless claims totaled 215,000 for the week ended Feb. 24, up 13,000 from the previous period and more than the 210,000 estimate.

…”

https://www.cnbc.com/2024/02/29/pce-inflation-january-2023-.html

Inflation is up and unfortunately its going to get worse. Banks are going to have some major problems in March. This doesn’t bode well for the economy.