Powell teed-up the PCE report with a hint at the results

Here is a graphic from the WSJ highlighting consensus expectations for today’s PCE report at a more-granular level.

Beyond that, here is what Powell said on Wednesday:

Estimates based on the Consumer Price Index and other data indicate that total PCE prices rose 2.6 percent over the 12 months ending in December
and that, excluding the volatile food and energy categories, core PCE prices rose 2.8
percent.

Now I don’t think Powell got that data two days in advance but it means the consensus is very firm around those numbers.

This article was written by Adam Button at www.forexlive.com.