Federal Reserve Chair Powell has projected February's Personal Consumption Expenditures (PCE) inflation at 2.8%, with core PCE inflation expected to reach 3.0%. While recent inflation expectations have increased, long-term expectations remain aligned with the Federal Reserve's 2% target. Powell noted that last year's rate cuts have brought interest rates closer to a neutral level, though it is premature to fully assess the economic impact. He also highlighted that rising energy prices are likely to contribute to higher overall inflation.