Is the Fed Easing in 2023?

The consensus was for a headline inflation number of up half a percent month on month and up 4% month on month on core CPI to bring the annual figures to 6.2 and 5.5 respectively. It's January, so among other things, we had a reweighting that tended to put more weight into the stickier categories and less weight in the flexible categories like core goods. If you were hoping that inflation would crash down and the Fed would go ahead and ease back to zero, that is going to happen. The Fed easing in 2023 would really take a calamity.