Federal Reserve officials stressed on Friday the importance of keeping close watch on inflation expectations as a way to keep inflation in check and keep track of trends in the economy.

The U.S. economy added 97,000 jobs in February, the smallest gain in two years.

The trade deficit narrowed slightly in January as U.S. exports rose to an all-time high while imports dropped, sending a hopeful signal that the country’s trade imbalances may finally start to improve this year.

Strong demand for corn from ethanol plants is driving up the cost of livestock and will raise prices for beef, pork and chicken, the Agriculture Department said Friday.