Hot inflation data for January was adding to concerns about how much more room the Federal Reserve might have to cut interest rates this year. This chart shows the retreat in expectations for lower rates from last year,

This week’s forthcoming Consumer Price Index report could show easing year-on-year inflation, increasing the potential for Fed interest rate cuts in May or June 2025.

Federal Reserve Chair Jerome Powell will tell the Senate banking committee the Fed isn't "in a hurry" to resume its interest rate cutting campaign.