Some economists are now contemplating what was previously unthinkable — and they are focused on the personal-consumption expenditures price index

The Fed is expected to cut interest rates in 2025, perhaps two or three times, with greater uncertainty for the second half of the year.

Federal Reserve policymakers got fresh reasons to hold short-term borrowing costs steady after government data signaled renewed strength in the U.S. job market, with traders now betting the U.S. central bank will wait until June to cut interest rates again and end its rate-cutting cycle there.