Fed inflation target expected to be met in March report

Analysts polled by Bloomberg expect the government’s March report for personal consumption expenditures, the Federal Reserve's preferred inflation gauge, is expected to hit the central bank’s 2% target, on a core basis.

The report, which will be released at 8:30 a.m. ET, marks an dual success for the Fed, which has a mandate to both maximize employment and keep inflation in check.

Unemployment is 4.1%, according to the Bureau of Labor Statistics' report for March.

While hitting the Federal Reserve’s inflation target of 2% would be a success for the central bank, economists typically put more weight on trends instead of one-off monthly reports.