Powell is speaking in front of the Senate this morning. If the data bears out, he is prepared to continue the rate hikes. Though inflation is easing, we still have a long road ahead of us.

Prematurely loosening policy might sound good but could be problematic down the road.

We have the lowest months of inventory over the last 20 years, averaging just 2.7 month of inventory. Between 1999 and 2005 it averaged over 5 months of inventory.

Have a great rest of your week.