Inflation was front and center this week with the release of the December Consumer Price Index (CPI) report. Inflation of 7% Headline and 5.5% Core (ex Food and Energy) were in line with consensus expectations.
Under the Hood (of Capital Markets)
A Quick Look Under the Hood
The S&P 500 is up over 15% this year and up almost 35% over the last 12 months. This week, the Dow Jones Industrial Average eclipsed 35,000 — another “round number milestone.”
Changing of the Guard
Federal Reserve Chairman Jay Powell briefed lawmakers this week on the state of monetary policy, assuring members of Congress that the central bank has no intention of raising interest rates anytime soon.