Managing partner and Chief Investment Officer of the Armstrong Advisory Group, Chuck Zodda breaks down this week's financial news including the CPI Inflation report.

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

US consumer prices rose in December by less than forecast, a welcome stepdown that helped arrest a deep selloff in bond markets and reinvigorate bets that the Federal Reserve will cut interest rates sooner than previously thought.