2024-02-13 19:35:00 ET
Summary
- The January Consumer Price Index (CPI) showed that inflation was, once again, hotter than expected, frustrating both the market and the Federal Reserve (Fed).
- Both headline and core monthly inflation accelerated, while the Fed’s favored supercore inflation measure extended its recent upward trend.
- Today’s inflation report shows that it is too early for the Fed to declare victory, confirming that a March rate cut must be off the agenda and reduces the odds of a May cut.
By Seema Shah, Chief Global Strategist
The January Consumer Price Index ((CPI)) showed that inflation was, once again, hotter than expected, frustrating both the market and the Federal Reserve (Fed)....
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January CPI Report: Inflation Progress Stalls