A market expert panel weighs in on November's Consumer Price Index coming in cooler than expected, and warned the Federal Reserve is looking in the rearview mirror.
as it tries to tame runaway inflation with a series of aggressive interest rate hikes. It marked the slowest annual inflation rate since December 2021.
Fox News contributor and columnist Liz Peek predicted a"deep" recession for 2023 on a"Mornings with Maria" market panel on Tuesday, December 13, 2022. But Beckworth, along with Fox News contributor Liz Peek and billionaire CEO John Catsimatidis, cautioned that the Fed is acting based on what it sees in the rearview mirror, instead of looking at"I think the Fed is focused on the service part of the index, which is important, but it's also important to note it tends to lag the rest of the economy," Beckworth said.
"I don't think we know what the results of this big tightening cycle will have been. Those time periods have always been associated with a very deep recession, and I think we are going to pivot, all of us who watch this material" Peek agreed. "From watching inflation [and] watching the Fed, to watching job losses and watching earnings, because I don't think analysts are at all realistic about what the earnings are going to look like next year.
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