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Weekly Commentary

Federal Reserve to Keep Inflation in Focus despite Some Weaker Indicators

January 14, 2022

This week’s U.S. consumer price index (CPI) report once again showed that high inflation is largely concentrated in goods. There’s still reason to believe that goods inflation will moderate. But you’d have to believe that commodity prices will remain in their recent range, supply chain disruptions will gradually ease, and inventories of durable goods and critical production inputs will recover.