This is CBS I on the world with John Bachelor. Watching the Federal Reserve watch numbers, just numbers that have acronyms.

CPI, PPE, what does it mean?

What's the Fed watching? I welcome Elizabeth Peek, who writes a column for the hill on a column for

fox news, much on fox business, to translate these acronyms into reality on the basis of what the market thinks, the

Fed things, Powell's going to do in the immediate future.

Liz, a very good evening to you.

I start with the fact that money is the most expensive

to borrow. It has been in decades and that's remained that way through this year. The Federal

Reserve has been hinting, whispering, shouting one of those, that it believes that money is too expensive.

And with a few more reports, it's ready to make money cheaper.

Gradually, perhaps, but from 5.5%, they have a lot of gradual below them.

However, these acronyms, we have a PPI in front of us now on the basis of these

last hours and some parts of the market are happy. What is a PPI? Why are we waiting

for CPI?

And I can't remember what PCE means all the time.

Good evening to it is.

Well, it's sort of a lot of acronyms for sure.

Well, yes, today was the producer price index, which is roughly speaking

the an indication of inflation in the goods that producers of final products are paying.

So it's the precursor to CPI, which is the consumer price index.

That's what you and I pay when we go into a grocery store.

So the PPI is sort of of a preview if you will of what we're going to see in the

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