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Inflation data came in a bit hotter than expected with the Bureau of Labor Statistics reporting this morning (February 13, 2024) that its Consumer Price Index (CPI) rose 3.1% on a twelve-month basis versus expectations for a rise of 2.9%. The core rate, which removes more volatile food and energy components, rose 3.9% versus expectations…

As was largely expected, The Federal Reserve Open Market Committee (FOMC) left the target range for its Fed Funds rate unchanged at 5.25 – 5.50%. What did change, however, was the wording in its announcement that had indicated the potential for hikes. That wording would seem to position the FOMC to begin reducing rates at…

In some ways 2023 reminded us of an old SNL character, Emily Littela, who would go on rants only to be interrupted and told that she misunderstood the topic. She always replied, “never mind.” Markets started the year in a fairly good mood only to be sent into panic mode with the insolvency of three…