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Livesquawk - US December CPI Adds Weight To Current Fed Stance
US December CPI Adds Weight To Current Fed Stance

BMO Capital Markets senior economist, Sal Guatieri said, "Another month, another big and broad increase in the prices paid by American consumers. Inflation showed no sign of easing in December, and wage pressures will only fan the coals this year. 

 

"Yesterday, Chair Powell warned that high inflation is a "severe threat" to the recovery and that the Fed would need to act to prevent it from becoming "entrenched". He really didn't need to remind anyone that the economy no longer needs "aggressive stimulus", and today's report will only reinforce the view that the Fed might have fallen well behind the curve and may need to catch up in a hurry."