CPI and PCE - What's the Fed Thinking?

The Federal Reserve is expected to raise the federal funds rate by 25 basis points next week. But a lot of that does hinge on what that CPI data is going to look like, says Ira Storozynski. The gap betweenCPI and PCE deflator has widened quite a lot, he adds. And if those data come out very strong, then the Fed might only go 25 bps higher than they originally planned in their dot plot.