Inflation Moderates but Remains High as Fed Meets to Consider Policy Path
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November CPI data showed inflation continuing to ease but still above Fed's target levels, keeping pressure on rate policy.
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FOMC meeting begins today with focus on 2024 economic and rate projections in dot plot.
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Earnings season picks up with reports expected from Adobe, Costco, Lennar.
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Semiconductor stocks rallied strongly Monday, lifting Philadelphia Semiconductor Index to near 2-year highs.
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Fed widely expected to leave rates unchanged this week after 350 basis points of tightening since March, but Treasury market shows rising expectations of rate cuts in 2024.