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The recent surge in inflation expectations reflected in surveys of American consumers also warrants close attention, Kugler said in remarks prepared for a U.S. Hispanic Chamber of Commerce event in Washington. Based on readings of the Consumer Price Index and Producer Price Index released earlier this month, Kugler said it is estimated that the Personal Consumption Expenditures price index the Fed uses to guide its 2% target climbed at a 2.5% pace year-over-year in February, the same as in January.

LAUSANNE (Reuters) -Executives from the world's top commodity trading houses expect a well-supplied oil market this year, with concerns remaining over global demand growth. Oil prices could continue to soften as global supply rises, including with the Organization of Petroleum Exporting Countries and allies (OPEC+)'s plan to unwind voluntary output cuts in coming months, the executives said speaking at the FT Commodities Global Summit in Lausanne. "There are some threats to supply, but by and large there is adequate supply for the next couple of years," said Vitol Chief Executive Russell Hardy.

The central bank identified weaknesses in Frankewing Bancshares’ operations, including its inability to provide financial and managerial support to the bank.

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U.S. consumers have been curbing their spending in response to high prices and a worsening economic outlook, according to consumer finance company Synchrony Financial. Americans have been accumulating more debt amid strain in their finances, with delinquencies edging up for auto loans, credit cards and home credit lines, the Federal Reserve said last month. Philadelphia Federal Reserve President Patrick Harker has also warned that trouble may be brewing for the U.S. economy, which is showing signs of stress in the consumer sector with consumer confidence also waning.

Recent economic projections from Federal Reserve officials had shades of "Stagflation-lite," in the words of one economist, a sentiment increasingly echoed among other observers of the U.S. economy and central bank wondering if the country's outperformance during the pandemic is about to slide. So what is stagflation and why is it suddenly on everyone's mind? Stagflation, or a period of both high inflation and high joblessness, hit the U.S. notably in the 1970s, which may have featured the worst U.S. economic leadership since the Great Depression.