This is on the

This is CBS I on the world with John Bachelor.

Here's John Bachelor.

On the eve of springtime, does that mean the American economy feels muscle, strength, drive?

Is it blooming?

I welcome Elizabeth Peek, a columnist at the Hill, a columnist at Fox News, helping me

understand much on Fox Business, the Federal Reserve, the Punch Bowl givers and takers.

Liz, a very good evening to you.

First there were seven cuts coming, that was sometime in late 23.

Then there were five.

Then there were, well I lose track after that, but now we're back to three except for rather

than March, it's not going to be June either. That's the best my chart can lay out. What is making the Federal

Reserve change its mind? If it is, making Wall Street change its mind about how the Federal Reserve is changing its mind.

Good evening to you.

Good evening, John.

Well, yeah, it's a sort of slow boil.

Investors are now pretty convinced that the feds simply can't raise interest

rates until inflation gets closer to their 2% target, or at least definitively is headed that

direction. And the problem today is that we've had two

months where inflation backed up surprising people who really studied these matters because of rents being higher than expected and going

higher than expected and kind of a slew of other sort of oddball items that increased in value, increased in price over the last

couple of months. So the whole narrative that the tightening of interest rates that the

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