In this episode of The Inflation Brief from ECON-versations with NABE, hosts Greg Daco and Laura Rosner Warburton unpack the December CPI report, explaining why headline and core inflation came in below expectations and what unusual price moves—from appliances to wireless services—may be signaling about tariff pass-through. They explore the outlook for goods and shelter inflation, the growing divergence between CPI and PCE measures, and what still-murky data mean for the Federal Reserve’s rate path, including expectations for potential cuts in 2026.

Join leading economists and policymakers at the 42nd Annual NABE Economic Policy Conference, February 22-24, in Washington, D.C. Organized around the theme, The Great Realignment: Navigating AI, Demographic, and Geoeconomic Shifts, the conference offers a forward-looking examination of the forces reshaping the global economy. From rapid advances in AI to demographic change and rising geoeconomic tensions, attendees will gain timely insights and practical strategies for fostering resilient, inclusive growth in an increasingly complex world. Explore the full program featuring headliners Christine Lagarde, Christopher Waller, Lisa Cook, Daron Acemoglu, Charlie Cook, and more.