December Inflation Cools to Four-Year Low; Global Central Bankers Support Fed Chair Powell

December Inflation Data

• 📊 The December consumer price report shows inflation rose less than expected, with the core consumer price index (excluding food and energy) increasing by 2.6%.
• 📉 This marks a four-year low for the core CPI.
• 🚗 A significant finding was a 1.1% decrease in prices for used cars and trucks.
• 👕 However, prices for clothing increased, and grocery prices saw their largest gain since 2022, rising 0.7%.

Global Central Bank Support for Powell

• 🤝 Global central bankers are expressing solidarity with Fed Chair Jay Powell.
• 🗣️ Chiefs from the European Central Bank, Bank of England, and Bank of Canada have stated their full support for Powell and the Federal Reserve.
• ⚠️ This support comes after the Trump administration intensified its pressure campaign against the central bank.

Diageo's China Business Review

• 🇨🇳 Liquor giant Diageo is reportedly considering options for its Chinese business.
• 💼 The maker of Guinness and Johnnie Walker aims to streamline its portfolio.
• 📉 Diageo's move follows other global companies reviewing their assets in China due to intensifying competition from domestic players.