Good morning, readers. I'm Phil Rosen, reporting from New York City.
The Bureau of Labor Statistics publishes January's CPI data at 8:30 a.m. ET today.
Economists expect inflation to have cooled to 6.2% year-over-year, down from 6.5% the prior month.
Inflation continues to come off June's high of 9.1%, but it remains well above the Fed's 2% target. Policymakers have reiterated hawkishness on several occasions, yet markets are still acting like easing rates are a sure thing.
Fed Chairman Jerome Powell warned — once again — last week that rates may eventually end up higher than markets anticipate as the fight against inflation remains far from over.
Now, ahead of the CPI report, let's check in with the outlook for stocks.
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