Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
The flap illustrates the growing distrust of the YouTube community, and willingness to assume the worst in light of unclear communication.Technologyread more
Four years ago Microsoft had just two women on its board. Walmsley is now the fifth.Technologyread more
AT&T isn't focused on selling or divesting DirecTV, despite pressure from stakeholder Elliott Management, sources tell CNBC.Technologyread more
Patrick Shyu, a former tech lead at Google, has posted a series of videos making fun of Facebook, where he worked as a software engineer until last month.Technologyread more
The mystery of low inflation won't be solved before the Fed's expected vote to raise interest rates Wednesday, but an early morning report on CPI should show a bump up in consumer prices.
The consumer price index was expected to have risen 0.4 percent in November, or at a year-over-year pace of 2.2 percent. The Fed's target is 2 percent, but its preferred measure, the PCE deflator, is still lagging. Core CPI, without food or energy, is expected to climb by 0.3 percent, or 2 percent year over year.
The sluggish pace of inflation has been a perplexing issue for Fed officials, who have said they see it as a transitory issue but also a concern. Fed Chair Janet Yellen has also
The Fed is expected to mention inflation in the statement it releases after its meeting Wednesday afternoon, and Yellen is likely to discuss it in what will be her final briefing before handing over the top job to Jerome Powell in early February.
"They tend to understate what they say about inflation. They don't want to make a bold statement. They're still confused. There's not a unanimity of opinion," said Ward McCarthy, chief financial economist at Jefferies. "They may refer to it as showing signs of stabilizing."
The Fed is also expected to raise its GDP forecasts slightly but expected to be approved by Congress before the end of the year.
"The surprise we have to look for is how the Fed may interpret tax changes going forward. They have had three rate hikes for 2018. Does this move them to four? There's a very low threshold to move up to four hikes. It just takes three voters," said Jim Caron, fixed income portfolio manager at Morgan Stanley Investment Management.
The Fed presents its interest rate forecast on a chart, called the "dot plot," which includes the anonymous forecasts of each Fed official.
The Fed's chart shows three rate hikes for 2018, but the market is barely expecting two, and one big reason is the lack of inflation.
"The core CPI over the course of this year has run between 1.7 percent and 2.3 percent, which is a little bit on the soft side, but I don't think it's reason to batten down the hatches on the inflation side. It's going to be back above 2 percent in 2018, and it was above 2 percent for all of 2016," said McCarthy.
"I think some of the anxiety about the inflation picture is overblown," McCarthy said. "I think inflation is going to accelerate." He said hurricane damage to homes in Florida and the South and fire damage on the West Coast should push up the cost of shelter and building materials.
NatWest Markets economists expect headline CPI rose by 0.5 percent.
"The energy component of the CPI could have registered a 3.3 percent spike in November, on the back of higher gasoline and electricity prices," note the economists. Food costs within CPI are also expected to have increased by 0.2 percent in November, after being flat in October.
The NatWest economists expect core CPI rose 0.23 percent, about the same as October. In November data, used car prices are expected to rise, apparel is expected to be up, and new car prices are expected to be unchanged, they said. But two rent categories, primary residence rent and owners' equivalent rent, could have risen by 0.3 percent, and hotel rates could be up 1 percent.
As the Fed releases its statement at 2 p.m. ET, Congress is holding a hearing on the tax plan, which is expected to be headed for a vote by the end of next week.
According to Dan Clifton, head of policy research at Strategas, the conferees as of Tuesday afternoon were discussing implementing the corporate tax cuts in 2018, after leaning toward 2019 earlier in the week.