Below is our "Chart of the Day" and a brief excerpt from today's Early Look written by our Director of Research Daryl Jones.

Yesterday, Chairman Powell reiterated that the President cannot fire him, and he’s likely to serve out his term until 2026. He did, however, make a notable comment on inflation trends:

“Inflation readings are likely to perk up in the coming months because price pressures at the end of 2023 were relatively low. The year-over-year comparisons will make inflation look higher in the final months of 2024.”

CHART OF THE DAY: Higher For Longer Inflation - cger11231