The Federal Reserve’s preferred inflation gauge cooled in January, if economists’ forecasts are right.The Bureau of Economic Analysis is scheduled to release the latest reading for the personal consumption expenditures,

Barkin said he understands that the fight against inflation has been long, but that “it is critical that we remain steadfast.”

Getting inflation under control since the worst surge in decades has been a bumpy process in recent months. New data on Friday showed a little progress, but also an unexpected pullback in consumer spending,