15 Jan 2025

Underlying inflation showed signs of decelerating in the United States last month, avoiding a widely-feared surge, and giving the Federal Reserve some breathing room as officials assess their next steps. The dollar is retreating against its major counterparts, Treasury yields are falling across the front end of the curve, and equity futures are surging as a relief rally unfolds across asset classes. Core price growth faded somewhat. According to data just published by the Bureau of Labor Statistics, the core consumer price index—with highly-volatile food and energy prices excluded—rose 3.2 percent in December from the same period last year, up...