A monthly Bureau of Labor Statistics report due Tuesday is set to show consumer prices were unchanged again in November, giving the Federal Reserve room to consider lower interest rates in the months ahead, according to Bloomberg Economics.
The consumer price index should benefit from a decline in energy prices last month, even if prices excluding food and energy rose faster than in October, Bloomberg economists Anna Wong and Stuart Paul said Monday in a preview of the figures.
“Short-term inflation expectations have come down sharply on lower energy prices in recent months,” Wong and Paul said. “That makes more room for the Fed to consider rate cuts as downside risks for activity and upside inflation risks become more balanced.”
Inflation has generally moderated in recent months at a faster pace than many forecasters inside and outside the Fed had expected, helping to fuel bets on rate cuts early next year.
While Fed officials have welcomed those developments, they’ve also cautioned that the path to their 2% inflation target may get bumpier in the coming months.
The Bloomberg economists predicted core goods prices registered declines in November for a sixth straight month, aided by a drop in used-car prices, though they added that “slow inventory rebuilding following the resolution of the United Auto Workers strike could temporarily slow the disinflation process for new cars.”
They also see a continued moderation in rental inflation in 2024, citing it as “the key driver of disinflation” in the year ahead.
“We expect to see core CPI inflation clocking just below 3%” in the first half of 2024, Wong and Paul said. “Unless the labor market cools more rapidly, chances are that inflation will stall at that level. Our baseline is that the economy is cooling — and the disinflation seen right now will persist as a result.”
The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.
"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.
Also, Summit Wealth Group nabs a Commonwealth advisor in Tennessee, Oxford Financial adds two managing directors, and Verdence draws an ultra-high-net-worth advisor from Fidelity.
When advisors have tech to handle meeting prep and organization, it frees up time they can reinvest more thoughtfully into helping clients.
LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
