, Columnist
Markets Aren't Doing Jerome Powell's Work Anymore
Slightly disappointing inflation data will give the central bank no reason to bring rates down early in the new year.
What’s left of stubborn inflation is in services, including shelter.
Photographer: Alex Kent/BloombergThis article is for subscribers only.
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US inflation is much lower than it was. It’s not declining very fast and remains above the Federal Reserve’s targets. And nobody is greatly surprised. Those are the main conclusions to derive from the consumer price inflation numbers for November, the last significant data point that the central bankers in Washington will see before their last meeting on monetary policy for the year on Wednesday.