But I can’t help imagine him quietly fist-pumping the moment he got wind of the latest inflation data. For context, a year ago the CPI peaked at 9.1% — the worst inflation in more than 40 years. After a punishing stretch of rising prices, “the fever is breaking,” wrote Bill Adams, chief economist for Comerica Bank. In other words, the Fed may actually pull off the “soft landing” — lowering inflation without tanking the economy — that few believed was doable even six months ago. “The odds of achieving a soft landing just went up drastically,” Dan Alpert, managing director of Westwood Capital, told me.

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Persons: CNN Business ’, Jerome Powell, he’d, Jay won’t, ”, Bill Adams, Jay Powell, “ We’ve, Lael Brainard, Joe Biden’s, “, Brainard, hadn’t, ” Dan Alpert, “ I’m, Jamie Dimon, you’ll Organizations: CNN Business, New York CNN, Consumer, Comerica Bank, Fed, Westwood Capital, JPMorgan Chase Locations: New York