Fed PCE inflation data is out! February overall PCE annual rate held steady at 2.8%, perfectly in line with expectations, while core PCE annual rate dropped to 3.0%, also hitting expectations spot on. This is the last clean inflation data before the Iran conflict escalated! Energy prices haven't been factored in yet, but the reports for March-April might be completely rewritten due to soaring oil prices. Market: A brief sigh of relief, but the real test is just beginning.