The inflation tracker dashboard monitors price pressures from multiple perspectives. CPI and PCE measure realized inflation (what consumers and the Fed actually see), while breakeven rates capture what the bond market expects inflation to be in the future. The federal funds rate and 2-Year Treasury yield show how monetary policy is responding.
Realized inflation (CPI, PCE) tells you what happened. Market-implied inflation (breakevens) tells you what is expected. Policy rates (Fed funds, 2Y yield) tell you how the Fed is responding. Together they form a complete inflation picture.