MORNING BID AMERICAS-Inflation thermometer tops market dashboard

In an illustration of just how quickly this year’s slightly hotter inflation readings so far can feed consumer expectations, the New York Federal Reserve’s latest household survey might be another red flag at the central bank. Longer-run household inflation expectations deteriorated in February, the Fed survey showed. Even though the Fed is no longer expected to execute its first interest rate cut later this month – futures have shifted to an 80% chance of a June move instead – a lot rides on today’s consumer price inflation readout for February.