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

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.

Inflation pressures continued to moderate in January, which may give the Federal Reserve reason to lower interest rates again later this year. The personal consumption expenditures, or PCE, price index,