Inflation will surprise investors again in 2023
The final consumer price index of 2022 is due out Thursday morning, and is expected to show prices rose 6.5% over the prior year in December.
As 2022 began, the inflation conversation was centered on whether a rise in prices would prove to be "transitory."
The answer was definitive: Inflation was not transitory.
So as 2023 begins, conversations now focus on how entrenched inflation pressures have become and how far the Federal Reserve may need to go to cut them off.
The latest Fed forecasts suggest rates will top out at 5.1% this year.
"Chair Powell has made it abundantly clear that the Fed will not be front-running the coming drop in inflation."
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