Technical Review

FOMC – No Hurry to Cut

The Consumer Price Index for December came in a little hotter than expected by Wall Street. The monthly increase for the Headline and Core was 0.3% compared to estimates of 0.2% for the Headline and 0.3% for Core. As a result the annual rate for the Headline CPI rose to 3.4% but the Core CPI fell to 3.9%. This was anticipated and discussed in the January 8 Weekly Technical Review. “The Consumer Price Index for December will be released on January 11, but won’t show another large decline. The take away value from December 2022 is just 0.1% for the Headline and 0.4% for the Core CPI. Unless...

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