<p>FED EXPECTED TO CONTINUE WAITING, AFTER PCE REPORT <p></p>The Fed is likely to see the benign PCE inflation report &#34;as the calm before the storm,&#34; Fitch Rating's Olu Sonola says in a note. &#34;They will continue to wait for the storm-unless consumer spending buckles and the unemployment rate rises rapidly,&#34; he writes. In the April report, personal consumption increased 0.8%. Disposable personal income and consumption also increased. Annual inflation ticked lower, to just a hair above the Fed's 2% target. &#34;This report shows that the U.S. consumer remains resilient,&#34; Sonola says.</p>