CPI was 7.7% in November. Is the recession already here?

CPI came out this morning at 7.7%. This is the lowest CPI reading since January 2022, but it's still a long way from the desired 2% inflation rate. Remember that the goal of the central banks is to bring inflation down to 2%, not to send the economy into a recession.<br><br>The thing is, the economy is already heading into a recession. Inversions in the yield curve, declining housing market, decline in consumer spending, decline in demand for goods, and the list goes on.<br><br>The question is, even though CPI is moving in the right direction, are we already in recession? Will the Fed be able to meticulously thread the needle and navigate to a soft landing?