The CPI numbers are out, and they are a delight to bullish eyes.
![](https://slopeofhope.com/wp-content/uploads/2023/06/cpit.png)
If you believe the numbers (which is a little tough if you’ve visited the grocery store recently), inflation has been cooling down steadily over the past year and is reaching positively tepid levels, virtually assuring a wait-and-see Fed tomorrow.
![](https://slopeofhope.com/wp-content/uploads/2023/06/themove-640x240.png)
The immediate reaction was, of course, positive, although modest so. As I’m typing these words, half an hour before the opening bell, all the stock futures are up fractionally.
![](https://slopeofhope.com/wp-content/uploads/2023/06/rtypulse-640x343.png)
After tomorrow’s FOMC’s event, at which time Powell will announce they’ll monitor the data while they’re busy doing the people’s work, the world will have to ask itself: does low inflation mean all our worries are over now?
![](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i4rf1PyAhM3o/v1/-1x-1.jpg)