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

The Fed is likely done cutting rates amid robust economic activity and can now eye a hike if core PCE or long-term inflation expectations rise, BofA says.

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.