Recent economic statistics for November 2022.

The ISM PMI index has been dropping in 2022 and it is at a 2-year low now. 

The ISM PMI is expected to continue on its downward trajectory as the US personal saving rate is at its lowest level.

Let's take a look at the US CPI now.

The latest CPI is at 7.7%. We can see from the chart that the CPI is trending down in Q4 2022 because of higher base effects in 2021.  

Where are the inflationary sectors?

The lower CPI of 7.7% is primary caused by used cars.

What's the Fed going to do next?

From the September Dot Plot chart, the Fed will end 2022 with a 4.5% Fed rate.  This means that the Fed will hike by 0.5% in December 2022.