In February, housing costs helped deliver a larger-than-forecast 0.5% gain in so-called core inflation, which excludes food and energy

Improving supply chains and firmer demand seem to be offering some relief for a still-challenged manufacturing sector.

Still, manufacturing has moderated and risks further loss of momentum as businesses contend with an inventory overhang and an easing in domestic demand for goods.

"Overall, inventories in the economy are still unusually low, even after a few quarters of substantial builds. That reflects how lean inventories were after massive liquidation during the pandemic."

Inflation and Russia's war on Ukraine lead to fears around the world of weakening growth or even recession.

Inflationary pressures continue around the world, although at varying paces.

If trade conflicts drive up consumer prices, Fed may raise interest rates more aggressively than expected.

Executives expect positive impact on business from Trump and GOP Congress.