For investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. With that in mind, Wall Street will intensely scrutinize the December Consumer Price Index data for December that is set to be released Thursday. The hope is that the pace of price increases will continue to slow. Consumer prices rose 7.1% year over year through November.
But if inflation pressures continue to abate – and the Fed acknowledges that by pulling back on rate hikes – then the housing market may rebound. “The mortgage market is already pricing in another two rounds of rate hikes as inflation moderates,” said Phillip Wool, managing director and head of investment solutions with Rayliant, an asset management firm, in a report.
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