The Fed's Preferences for Inflation

The inflation data released in the U.S. last Friday was below estimates. The core rate of the Personal Consumption Expenditures Price Index, or PCE, rose a mere 3.10% last month. This seems to suggest an end of an aggressive rate hike cycle may be near an end. However, the head of the Boston Fed, Susan Collins, says it's simply too early to assess whether Fed policy, where it will go next.