“The Federal Reserve approved an interest-rate increase of 0.5 percentage point and signaled plans to lift rates through the spring, though likely in smaller increments, to combat high inflation.”

Analyst Comment: This is the beginning of the Fed pivot. What will be difficult for the Federal Reserve is that food prices will likely remain elevated even as prices across other sectors plunge. Real estate, logistics / shipping and retailers have experienced some of the biggest drops in demand over the past month or so.