Fed Rate Cut Latest: Slow Inflation Retreat to Bolster Powell’s Patience

Inflation in the US probably abated only gradually last month and retail sales rebounded, illustrating why the Federal Reserve is in no rush to lower interest rates.

The core consumer price index, a measure that excludes food and fuel for a better picture of underlying inflation, is seen rising 0.3% in February from a month earlier after a 0.4% advance to start the year. The Labor Department will issue its CPI report on Tuesday.