This complicates the 'rapid cut' narrative, Jason Katz says

Well, welcome back. Now, a look where markets ended the week after we did get some key economic data on Friday, giving us the first read on fourth quarter GDP, coming in at 1.4%. That was far below the range of expectations, which called for growth of 3%.But remember, we had a 43-day government shutdown during the quarter. We also got the Federal Reserve's preferred measure of inflation. The December PCE index came in slightly hotter than expected at up 4/10en of a percent compared to expectations of 310en ...