Markets were mixed on Friday.
The S&P 500 surged 2.4 percent and the Nikkei 225 jumped 2.1 percent but the STOXX Europe 600 fell 1.0 percent.
Investors in the US shrugged off a report showing that December’s core personal consumption expenditures price index rose 4.9 percent from a year earlier, the biggest increase since September 1983.
Chris Hussey, a managing director at Goldman Sachs, noted that “the Fed’s hawkish tilt received as-expected support from another high inflation print”.
Darrell Cronk, chief investment officer for wealth and investment management at Wells Fargo, warned that the “lows may not be in yet”.
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