The consumer price index fell 0.7% in January, more than the 0.6% analysts were expecting. Year-over-year, the index is down 0.1%. Inflation has taken center stage as Federal Reserve Chair Janet Yellen told Congress earlier this week that rates won’t rise until the Fed is confident that inflation moves back towards its 2% target. TheStreet’s Scott Gamm speaks with Lindsey Piegza, chief economist at Sterne Agee to discuss her reaction to Thursday’s consumer price index and why she thinks a 2015 rate hike is off the table, given the state of the economy. She also provides a preview of Friday’s reading on fourth quarter gross domestic product.
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