U.S. December PPI data rose only moderately, less than expected

On January 14, Gold Ten reported that U.S. PPI data rose moderately in December, but this is unlikely to change the Federal Reserve's view that it won't cut interest rates again until the second half of this year due to the strong performance of the job market. The PPI rose 0.2% last month, while economists had previously forecast a 0.3% rise, the Bureau of Labor Statistics reported on Tuesday. The year-over-year gain saw the PPI rise 3.3% after rising 3.0% in November. The spike in the year-over-year gain reflects last year's price declines, especially since the prices of energy products have been removed from the calculation. Currently, at least one Wall Street institution (Bank of America) now believes that the Fed's easing cycle is over. Goldman Sachs, for its part, expects two rate cuts in June and December of this year, down from three previously.