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Increasing savings. Adding to quote, signs of an economic slowdown. The personal consumption

expenditures price index, PCE price index, the Federal Reserve's preferred gauge of inflation

rose 5% in December from a year earlier after increasing 5.5% in November. So it's declined.

That sounds like a good thing. So I bring in my favorite permabair, Jim McTague, former

Washington editor of Barron's magazine, now a novelist who has been correct the first

half of 22 was ugly. The word ugly is inadequate to what happened. The second half of 22 is

starting around a month before the midterm has been in rally mode and the rally continues.

Jim, this slight improvement in the PCE price index from 5.5% in November to 5% in December,

are we celebrating? Is the monetary policy at the Federal Reserve vindicated? Good evening

to you.

Good evening, John. It's bringing some relief to all of us, except in the supermarket.

If you go to retail stores or online to the cascos of the world, you're going to see

some pretty good discounting right now. So that's a good sign that some prices are moderating.

You mentioned I'm a permabair when it comes to the Fed's ability to fight inflation. I

think it's done a good job of stampeting down inflation with the tools it has at hand.

But the man that we all love to mocked, President Joe Biden, back in June, framed the inflation

...