New data may point to emerging tension between the U.S. Federal Reserve's dual inflation and employment goals, as price pressures remained sticky in January while consumer spending slowed more than expected.

The Federal Reserve is likely to resume cutting interest rates in June and could reduce short-term borrowing costs again in September.

The Federal Reserve could restart cuts to short-term borrowing rates in June and follow up with another reduction in September, traders bet on Friday, after data showed inflation edged down in January in line with expectations.

The personal consumption expenditures (PCE) index, the Federal Reserve’s preferred gauge of inflation, fell marginally in January, easing concerns that the Trump administration’s tariff policy might upend the central bank’s efforts to control price rises.