Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased.

The central bank’s recent infusion of financial-market brawn includes Beth Hammack, who worked for three decades at Goldman Sachs.

The Consumer Price Index rose 2.9 percent from a year earlier, but a measure of underlying inflation was more encouraging.

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

The IMF has warned that Trump's plans to impose higher blanket tariffs by up to 20%, lower taxes, and restrict immigration could lead to higher inflation and prevent Fed interest rate cuts. The fund substantially raised its forecast for U.