Fed is "almost done raising rates. Higher for longer is what people should be focused on”

The CPI data from the US on Thursday is here ICYMI:

• US December CPI +6.5% y/y vs +6.5% expected

More:

• Forexlive Americas FX news wrap: US dollar crumbles after CPI

I posted earlier on:

• Goldman Sachs - US CPI report makes a solid case for a Fed step down to 3 * 25bp hikes

Peter Boockvar, chief investment officer at Bleakley Financial says this is not the focus:

• “They are almost done raising rates. Higher for longer is what people should be focused on.”

And:

• the CPI "was exactly in line. They ran up the S&P 500 by 50 points yesterday with everyone hoping for a weak number. It was as expected. It doesn’t change anything"

• BoA have an opposite take, says the market is not focused on the Fed rates staying "higher for longer" because:
  
  “It is very simple: The market has a very different view on inflation . It thinks inflation is going to fall much faster than the Fed does”