From yesterday's House hearing MEUSER: The CPI this morning came in a little hotter than expected at 3%. Did this surprise you? POWELL: The CPI reading was above almost every forecast. But I would just offer a note of caution on this -- two notes of caution. One is we don't get excited about one or two good readings, and we don't get excited about one or two bad readings. The second thing, though, is we target PCE inflation because we think it's simply a better measure of inflation. And so you need to know the translation from CPI to PCE, and we get more data on that. Tomorrow we'll get the producer price index. So, I think it's always wise. And the people who follow us closely know this, that we'll know actually what the PCE readings are late tomorrow.