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Here's your midday brief for Tuesday, January 13th. I'm Pierre Bienname for the Wall Street Journal.

Prices for goods and services rose 2.7% from a year ago in December. That's the same rate as a month earlier.

The Labor Department's Consumer Price Index report out today shows that costs for groceries,

housing, and medical care climbed while gas and used car prices

fell. The report shows the impact of tariffs is still relatively muted, and it offers a measure of

relief to Federal Reserve officials who lowered rates last month. J.P. Morgan Chase CEO Jamie Diamond

is warning that political interference with the Federal Reserve would backfire and drive interest rates higher.

Diamond defended the central bank's independence following news over the weekend that the Justice Department is

investigating Fed Chair Jerome Powell. Diamond also said he didn't think the Fed was infallible and that it had made

mistakes. The executive was speaking with reporters

today after J.P. Morgan's fourth quarter earnings results. The bank's profit fell 7% to $13 billion,

dragged down by a $2.2 billion charge from its deal to take over the Apple Credit Card program,

and there was a surprising slip in fees from investment banking. As for the U.S. economy,

Diamond says it remains resilient. And South Korean prosecutors are seeking the death penalty

for former President Yun Sukyal on charges of insurrection. The request follows Yun's brief

...