The Fed’s favorite tool to track inflation unlikely to offer ammo for reducing U.S. interest rates

The latest look at U.S. inflation is unlikely to ease the worries on Wall Street or at the Federal Reserve, but it probably won’t add to the anxiety.

The so-called PCE index, the Fed’s preferred price barometer, is forecast to rise an unwelcome 0.3% in February,

according to economists polled by the Wall Street Journal.