As the statistical data released on Friday showed, in February the growth of the basic price index of personal consumption expenditures in the United States (PCE) slowed to 0.3% in monthly terms. A month earlier, it had posted its biggest gain in a year at 0.5%. However, the Fed continues to look for more evidence of a steady decline in inflation and is in no hurry to move to lower interest rates, Bloomberg writes.

According to a report released Thursday, consumer spending in the States for February was revised upward to 3.3%. That was helped by higher spending on health care and financial services, which offset lower-than-expected spending on goods. Fourth-quarter GDP growth was estimated at 3.4%.

Fed Chairman Jerome Powell said on Friday that the results were in line with the central bank's expectations. At the same time, he stressed that due to the strong economic growth and strong labor market, the regulator will need additional evidence that inflation is slowing down before moving to lower rates.