"Earlier Tuesday morning, the Bureau of Labor Statistics announced that the Consumer Price Index had risen at an annualized rate of 2.7% in December, the same increase it had in November. Inflation remains a challenge, with core PCE inflation holding above the Federal Reserve's 2% target for 55 months, Seema Shah, chief global strategist at investment firm Principal Asset Management, told CBS News on Tuesday."
"Powell announced on Sunday that he was facing a criminal investigation into his testimony before Congress last June, asserting in a video statement that the real reason for the investigation was his refusal to lower interest rates, as Trump has urged. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditionsor whether instead monetary policy will be directed by political pressure or intimidation, said Powell."
The Consumer Price Index rose at an annualized rate of 2.7% in December, matching November. Core PCE inflation has remained above the Federal Reserve's 2% target for 55 months. Seema Shah characterized core inflation as a continuing challenge. Ellen Zentner said the December inflation report does not provide the foundation for the Fed to cut interest rates later this month. Jerome Powell announced a criminal investigation into his congressional testimony and argued the probe was motivated by his refusal to lower rates. President Trump publicly urged Powell to cut rates and credited tariffs for strong growth, and Senator Thom Tillis raised concerns about DOJ independence.
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