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Fed Pause Comes into Distant View

U.S. inflation data suggests price pressures have peaked, giving financial markets hope that the Federal Reserve’s interest-rate hikes will soon pause.

By Molly Smith & Augusta Saraiva | December 13, 2022 at 10:14 AM
Photo: Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following an FOMC meeting in Washington, D.C., on November 2, 2022. Photographer: Al Drago/Bloomberg Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following an FOMC meeting in Washington, D.C., on November 2, 2022. Photographer: Al Drago/Bloomberg

U.S. inflation data is offering the strongest evidence yet that price pressures have peaked, cheering financial markets and putting a pause in the Federal Reserve’s interest-rate hikes in view.

Stocks and bonds rallied after the report, as investors boosted bets that the Fed will pause its tightening cycle early next year. So-called core inflation—which excludes food and energy—rose just 0.2 percent in November, the smallest monthly advance since August 2021.

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