0346 GMT - U.S. consumer inflation cooled in February but economists at Nomura don't see the Fed cutting rates this year. CPI components that have higher weights in core PCE inflation came in stronger than Nomura expected, leading it to raise its forecast for February core PCE inflation to 0.32% on month from 0.28% projected earlier. "The strength in PCE-relevant components of CPI supports our Fed call of no rate cuts this year," they say in a note. Barring a surprise from PPI data, core PCE inflation is likely to result in the Fed becoming more cautious about resuming rate cuts, they say. While it's too early to see the impact of higher tariffs on consumer prices, the combination of underlying inflation pressure and policy-driven upside risks are likely to support a hawkish Fed approach, Nomura adds. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
March 12, 2025 23:46 ET (03:46 GMT)
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