The personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, due on Thursday is likely to show prices rose on a monthly basis in January. The PCE index is expected to show that inflation is being stubborn, said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Evidence of sticky inflation, a robust U.S. economy and pushback from some Fed officials have already led traders to delay bets of the first interest rate cut to June from March.
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