CPI rose at 2.7% annual rate
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15hon MSNOpinion
Inflation 'good enough' but Fed stays put: Bilello warns against political 'price fixing' of money
December's inflation report showed prices holding steady, a result markets deemed “good enough” but too hot for an immediate Federal Reserve rate cut. As the central bank appears set to stand firm, prominent strategist Charlie Bilello is defending its stance against intensifying political pressure,
So-called core inflation, or CPI data that excludes volatile food and energy prices, rose by 2.6% over the past 12 months, according to the Bureau of Labor Statistics. Economists polled by FactSet had predicted a 2.7% increase for that measure.
Inflation came in better than expected in September, a welcome downside surprise that gives policymakers a bit more breathing room as they weigh another rate cut. It was exactly the kind of reading the Fed (and investors) wanted to see: softer shelter ...
Federal Reserve Bank of Chicago President Austan Goolsbee lauded the November inflation report, which showed a cooling in price pressures, saying it contained a “lot to like.” “I realize it’s just one month, and you never want to hinge too much on ...