Inflation Cools — But Don’t Let That Fool You On the surface, the U.S. economy just got a breather. November’s Consumer Price Index (CPI) numbers came in cooler than Wall Street expected. The headline CPI rose by just 2.7% over the past year, well below the predicted 3.1%. Core CPI — which filters out the noisy stuff like gas and groceries — landed at 2.6%, compared to a 3.0% forecast. Sounds great, right? But hold on. Before you break out the champagne, remember: we’re still well above the Fed’s so-called “target” inflation rate. And the dollar continues its slow bleed, day after day. This is the calm before the next storm — and smart folks are already shifting into hard…
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