President Biden signed the latest relief package into law on Thursday with the first round of checks potentially hitting this weekend. In a public address on Thursday Biden also announced he will push to have all adults eligible for the vaccine by May 1st.
February headline CPI rose 0.4% (1.7% vs. last year) which was mostly driven by an increase in energy prices, notably natural gas. The increase matched median consensus forecasts, while the core figure of 0.1% was weaker than expected, given slack in the labor market.
Consumer sentiment increased in early March, after an unexpected drop in February. An increase in future expectations, which rose 6.8 points, as well as a slightly smaller increase in current conditions, pushed the overall index higher as positive vaccination and fiscal aid remained in the headlines.