BLS releases CPI report today…

In order to determine whether the Fed will keep its current monetary policy in place or loosen it slightly, traders and investors have been eagerly awaiting today’s inflation report. The report’s results were quite close to expectations and did show that inflation is still declining. But the headline inflation rate rose by 0.5%, the highest monthly gain since June 2022.

According to the data, overall inflation—which includes prices for food and energy—declined for the sixth consecutive month. The figures for January came in at 6.4% year over year, an increase of 0.5% from the previous month.The most important takeaway from today’s report, in my opinion, is that it provides the Federal Reserve with justification to maintain its aggressive monetary policy because both today’s report and last week’s jobs report show that the economy is strong enough to withstand recent rate hikes by the Federal Reserve.

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