Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged. According to minutes of the Jan.

New data may point to emerging tension between the U.S. Federal Reserve's dual inflation and employment goals, as price pressures remained sticky in January while consumer spending slowed more than expected.

Inflation showed a modest decline in January, even as concerns grew over President Donald Trump’s proposed tariffs. The personal consumption expenditures (PCE) price index, which serves as the Federal Reserve’s preferred inflation gauge,