This should be good news! US consumer confidence declined again in January! Following three consecutive rate cuts in Q4 of last year, consumer confidence fell significantly in January, and was significantly lower than expected. Given this, the January CPI is highly unlikely to rise, and may even decline. The January CPI data, released on February 11th, could be positive. The weak job market, coupled with the CPI's failure to rebound after the rate cuts and its potential decline, reduces the obstacles for further rate cuts by the Federal Reserve. Of course, a rate cut in January is unlikely, and the probability of a rate cut in March or April is low, but not entirely hopeless.