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Tuesday's February Core CPI was more positive than expected, but the stock market didn't mind. For much of 2023, the S&P 500 moved inversely to expected fed funds rates: The index sold off while the Federal Reserve was expected to keep rates “higher for longer” early last fall, and then rose as the central bank pivoted toward cuts. But so far this year, the number of cuts has been aggressively reduced and the stock market doesn't care.
