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Good morning. Welcome to Axios today. It's Tuesday, January 24th. I'm Nyla Boudou. Here's

what we're following today. Another mouse shooting affecting the AAPI community in California.

Plus, new plans to curb fraud and organic food labels. But first, cautious optimism at the

Fed is today's one big thing. We've talked a lot on the podcast about the Fed's battle

with inflation last year, as a central bank has wrestled with interest rates. But recently,

the Fed's tone has shifted to a more optimistic outlook. What does that tell us about the

economy? Here to translate this Fed speak for us as Axios' economics reporter Courtney

Brown. Hey, Courtney. Hi, Nyla. Okay, Courtney. So first 10,000 foot view. What's happening

with the economy in particular inflation right now? Well, the data that's been coming

in lately, the economic data has been looking pretty good for the most part. We got the

consumer price index, which is a gauge of price increases across a basket of consumer

goods for the month of December. It actually looks like prices fell in aggregate and have

slowed in the 12 months through December. It's been slowing for a few consecutive months.

And that's really good news for the Fed's inflation fight. And alongside that, we've had

pretty continued strong jobs growth. You see a lot of tech layoffs in the headlines.

And you know, that's really devastating for people who are losing their jobs. But for

...