CPI report came out a few minutes ago showing core inflation, ex-food and energy I believe, remained unchanged in February. This allows the Fed to cut interest rates further next week if they deem it necessary. Everything I said about doom-and-gloom a couple of days ago can be tossed out the window. Forget the fact that we’re seeing record prices in oil and gold and the dollar’s weakness against everything (including the Peso I bet!). With CPI unchanged, expect the markets to be expecting their anticipated 75 bp cut.