JPMorgan Chase CEO Jamie Dimon slammed the Trump administration’s move to open an investigation into Fed Chair Jerome Powell over the $2.5 billion revamp of its headquarters, warning that threats to the central bank’s independence could raise interest rates and stoke inflation.GOP lawmakers and White House insiders accuse Powell of lying to Congress about the work during his testimony in June, prompting US Attorney Jeanine Pirro to step in and order the probe.But JPMorgan boss Jamie Dimon, speaking during a ...

Key Takeaways CPI Inflation Rate Came In-Line Month over Month to 2.7%Oil and Gasoline Prices Moved Lower; Food and Shelter Rose AgainJPMorgan and Delta Air Lines Beats Estimates on Top and Bottom LinesTuesday, January 13th, 2026A new Inflation Rate hits the tape this morning, coming in flat month over month to +2.7% — still -30 basis points (bps) from the recent high +3.0% back in September. It continues an abrupt turnaround in Consumer Price Index (CPI) year over year, which had risen +70 bps from April t ...

Core Insights - Grocery prices have surged, but this increase has been offset by lower price increases for appliances and vehicles, indicating a mixed inflationary environment ahead of the Federal Reserve's interest rate meeting [1] Group 1: Grocery Prices - The report highlights a significant rise in grocery prices, which is a key concern for consumers and policymakers [1] Group 2: Appliances and Vehicles - In contrast to grocery prices, the increases in prices for appliances and vehicles have been lower, suggesting some relief in these sectors [1] Group 3: Federal Reserve Context - This report is the last one before the Federal Reserve convenes to discuss interest rates, making it particularly relevant for monetary policy considerations [1]

Core Insights - The article discusses the financial challenges faced by a retired couple living on a monthly budget of $6,200, highlighting the need for a portfolio of approximately $617,000 to sustain their lifestyle under the 4% withdrawal rule [2][3]. Financial Sustainability - A $617,000 portfolio may struggle to cover a $2,058 monthly gap after 15 years if inflation averages 3.5% while Social Security cost-of-living adjustments (COLAs) average 2.5% [3][6]. - The couple's income of $74,400 annually leads to taxation on up to 85% of their Social Security benefits, resulting in federal tax payments of $4,200 to $4,800 annually [7][8]. Inflation and Lifestyle Maintenance - To maintain the same lifestyle, the couple's $6,200 monthly budget would need to increase to $8,333 in 10 years and $11,180 in 20 years due to 3% annual inflation [5]. - The gap between Social Security growth at 2.5% and actual expenses rising at 3.5% widens each year, necessitating portfolio withdrawals to increase faster than the anticipated 4% [6]. Tax Implications - The couple's provisional income exceeds $44,000, leading to significant taxation on their Social Security benefits, which have not seen threshold adjustments for inflation since 1984 [7]. - Strategies such as Roth conversions, strategic withdrawal sequencing, or qualified charitable distributions can help reduce lifetime tax bills and improve financial outcomes [8].

The market’s focus this week will be on economic news and any fresh news on the Federal Reserve. On Wednesday, Nov PPI final demand is expected to increase +2.7% y/y, and Nov core PPI is also expected to climb by +2.7% y/y. Also, Nov retail sales are expected to have increased +0.5% m/m and +0.4% m/m ex-autos. In addition, Dec existing home sales are expected to climb +2.2% m/m to 4.22 million. Finally, the Supreme Court on Wednesday may rule on the legality of President Trump’s tariffs. On Thursday, weekly ...

January has that fresh start energy — we’re motivated, optimistic and fully convinced this is the year we get our finances together. But between goal-setting, post-holiday reality checks and a few well-intentioned decisions, it’s surprisingly easy to slip into money habits that feel harmless in the moment and quietly make the rest of the year harder than it needs to be. “People repeat the same financial behaviors every January and call it a fresh start,” said Angela Matthews, personal finance expert and ...

Core Insights - The K-shaped economy is becoming evident in consumer spending patterns, with a clear divide between higher- and lower-income consumers as the economy heads into 2026 [1][2] Consumer Spending Trends - Higher-income consumers are performing well, with strong spending on real assets and homes, while lower-income cohorts are struggling due to persistent inflation [2] - Retail sales in the U.S. appear resilient, but the strength is narrow, with consumers being selective and prioritizing brand loyalty and perceived value in discretionary purchases [2] ETF Performance and Strategy - Value-oriented retailers are benefiting from this selectivity, with ETFs focused on companies like Walmart, Costco, and off-price chains showing strong performance driven by a few value leaders [3] - Consumer staples ETFs are gaining traction as lower-income households reduce spending, indicating a shift towards defensive market segments [4] Consumer Sentiment - Consumer confidence remains low despite equity markets nearing record highs, creating a disconnect that is unusual in the current economic climate [5] Investment Strategies - ETF investors are advised to adopt active strategies that focus on companies catering to value-conscious shoppers and benefiting from productivity gains through AI, while avoiding broad exposure to vulnerable segments [6] - Employment security is a critical factor influencing consumer spending behavior, with job security leading to increased spending and insecurity prompting more selective purchasing [7]

Group 1 - The Federal Reserve cut the main interest rate by a quarter point three times from September to December last year, with the current federal funds rate ranging between 3.5% and 3.75% [3] - U.S. employers added only 50,000 jobs last month, falling below expectations, indicating a cooling labor market [3] - The unemployment rate decreased to 4.4% from 4.5% in November, but remains above the 4% level seen in January 2025 [4] Group 2 - Core inflation, excluding food and energy, rose by 0.2% in December and 2.6% for the full year, matching a four-year low [7] - The overall Consumer Price Index (CPI) increased by 0.3% for the month and 2.7% for the full year, with shelter costs contributing significantly to the monthly rise [7] - The lower inflation figures allow the Federal Reserve to prioritize labor market stabilization over immediate price pressure concerns [7]

Core Insights - The December Consumer Price Index (CPI) shows a core inflation rate of 2.6%, slightly below the expected 2.7%, but consistent with the previous months from September to November, remaining close to the Federal Reserve's 2% target [1] - The inflation report does not provide sufficient justification for the Federal Reserve to consider cutting interest rates in the upcoming meeting, as inflation remains above target [2] - Shelter costs, which rose by 0.4% in December, were a significant contributor to the inflation increase, although the data collection process may have skewed the results due to assumptions made during the government shutdown [2][3] Economic Outlook - The Federal Reserve is expected to maintain its current interest rate range of 3.5%-3.75% for the time being, as rates are deemed well-positioned to support job growth while managing inflation [5] - New York Fed president John Williams anticipates economic growth in 2026, with inflation expected to peak in the first half of the year and then decline to just under 2.5% by year-end [4] - The expectation is for 50 basis points of policy easing in 2026, but the Fed is likely to wait until at least June to resume rate cuts [4]

Core Insights - Grocery prices have surged, but this increase has been offset by lower price increases for appliances and vehicles, indicating a mixed inflationary environment ahead of the Federal Reserve's interest rate meeting [1] Group 1: Grocery Prices - The report highlights a significant rise in grocery prices, which is a key concern for consumers and the economy [1] Group 2: Appliances and Vehicles - In contrast to grocery prices, the increases in prices for appliances and vehicles have been lower, suggesting some relief in these sectors [1] Group 3: Federal Reserve Context - This report is the last one before the Federal Reserve convenes to discuss interest rates, making it a critical indicator for potential monetary policy decisions [1]