US consumer prices for December plunge at their steepest rate since April 2020. The headline CPI of 6.5 per cent is the smallest annual rise in more than a year. Despite Fed officials Patrick Harker and James Bullard insisting that rates will continue to rise, there are hopes the central bank could start cutting them later this year as inflation eases. In China, December exports hit their lowest level since February 2020, while Covid infections have continued to hamper domestic demand. Tesla is set to slash EV prices Stateside on its most popular models by 20 per cent in a bid to claw back market share following a rollercoaster 2022. And U.S. AG Merrick Garland appoints a special counsel to investigate classified documents found at President Biden’s home and private offices.  

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