CPI data ‘not good enough to stop the Fed’ from raising rates next week

The U.S. consumer price inflation data for February released Tuesday hardens expectations for the Federal Reserve to raise its benchmark interest rate by a quarter percentage point next week, even in light of the collapse of California’s Silicon Valley Bank, economists said Tuesday.

“The data was not good enough to stop the Fed hiking next week,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

CPI…