Happy hump day, readers. I'm senior reporter Phil Rosen, writing to you from Manhattan.
Today we're going over why some of the most astute voices on Wall Street are advising a shift from stocks to bonds — and what we learned yesterday helps explain why.
Tuesday's CPI data showed inflation climbed 0.5% in January, slightly higher than expected, and year-over-year it slowed to 6.4%.
The reading was nothing to call home about (sorry mom), but it suggests the whole "disinflationary" idea Jerome Powell has alluded to is going to be as straightforward as a squiggly line.
Prices, it seems, aren't cooling down as smoothly or quickly as anyone wants, especially the Fed.