Key Federal Reserve Inflation Gauge , Rose 2.8% in March.<br />According to Commerce Department <br />data released on April 26.<br />the personal consumption expenditures <br />(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .<br />That exceeded Dow Jones <br />estimates of 2.7%, CNBC reports. .<br />When also accounting for food and energy, the all-items PCE measure rose 2.7%, <br />which was above the 2.6% estimate.<br />Inflation reports released this morning <br />were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.<br />... but investors should not get <br />overly anchored to the idea that <br />inflation has been completely <br />cured and the Fed will be cutting <br />interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.<br />The prospects of rate cuts remain, <br />but they are not assured, and the <br />Fed will likely need weakness in <br />the labor market before they <br />have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.<br />Consumers continue to spend despite <br />higher prices, CNBC reports.<br />Personal spending increased 0.8% in March, while personal income rose 0.5%.<br />The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.<br />The Fed continues to target 2% inflation, which the core PCE has exceeded for <br />the last three years, CNBC reports.
