Inflation accelerated again in December, surpassing analyst expectations and challenging market expectations for interest rate cuts by the Federal Reserve in early 2024. According to the latest report from the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased to 3.4% in comparison to December 2022, up from November’s 3.1% and exceeding the anticipated 3.2%. Before the report was released, traders had priced in a 70% probability of a Fed interest rate cut as soon as March, along with a total of six rate cuts by the end of the year. This hotter-than-expected inflation report c…
