By cutting rates 50 basis points, the Fed has declared something of a victory over inflation but there is still some problematic inflation, particularly around insurance, healthcare and housing. With China stimulating this week, next year might not be as smooth sailing on prices as hoped.That said, the bond market is still seeing sub-2% inflation so it's hardly a time to panic.The PCE report is coming up at the bottom of the hour and expected to show headline prices up 0.1% m/m and core up 0.2% (Waller forecast at +0.14%). Personal income is forecast up 0.4% and spending up 0.3%.We're past the days where US inflation reports would lead to +3% moves in equity markets but this data point won't
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