While the inflation rate for December moderated in line with consensus estimates, a buoyed market is witnessing a rally even among meme stocks which found the wind taken out of its sails amid aggressive interest rate hikes by the Fed during the previous year.
However, with the CPI of 6.5% for December remarkably higher than the 2% levels being targeted by the Federal Reserve, the central bank is unlikely to be complacent with the status quo in the foreseeable future.
