They are likely to acknowledge the firmer data since the January meeting.

The data were firmer overall than expected,

We still do not look for the core CPI to accelerate rapidly, but it is likely to be persistently firmer going forward. At a minimum, core consumer price inflation will be firm enough to keep the Fed on edge and raising interest rates.

The strength across all labor-market indicators does suggest the Fed will likely raise rates in March.

The change from 'likely' to 'may be' takes away any strong signal they'll be raising rates.

Any way you slice it, the report suggests homebuilding is holding up quite well, and it will continue to be strong until we see a significant rise in mortgage rates. There's no evidence that a peak has been reached in the housing market.