USFR a Fine Idea for This Environment USFR's lack of duration may appeal at a time when both geopolitical and macroeconomic headwinds weigh on risk assets. Before the conflict-related surge in oil prices, the Consumer Price Index was trending in the right direction. However, as Flanagan pointed out, the Personal Consumption Expenditures (PCE)— the Fed's preferred metric — resides at 3.1%, well above the central bank's desired target of 2%. Fed Disappointment May Make This Bond ETF Appealing This year has br ...