Gate News Report, March 11 — UBS Chief Economist Paul Donovan stated that the U.S. Consumer Price Index (CPI) data for February will be released today. He noted that although this data predates recent market turbulence, it remains crucial for Federal Reserve policy decisions. Donovan expects the underlying inflation pressures reflected in today’s data to be moderate. He believes the Fed should only respond to broad price increases and emphasized that the Fed lacks policy tools to address isolated market disruptions. Additionally, Donovan pointed out that the nearly 27% increase in gasoline prices from January’s lows will not be reflected in today’s data, but consumers will notice a surge in some grocery item prices.
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