BofA: PCE data for February expected to move in the "wrong direction"

On March 13, Jinshi Data reported that analysts Stephen Juneau and Jeseo Park from Bank of America wrote that the core PCE index for February may remain at the January level of 0.3%, adding that they believe there may be a risk of reaching 0.4%. "If our forecast is correct, inflation will take a step in the wrong direction." They stated that unless the economy "truly weakens", inflation is unlikely to decrease enough for the Fed to cut interest rates this year, "especially considering policy changes will push up inflation." However, according to CME data, investors seem to disagree with this view, with a 57% probability of at least three rate cuts this year, but this proportion has been declining throughout this week.