“He’s one of the best central bankers in the world and he’s got a winning hand. Would you please just let him play it,” Jim Cramer said.

Millennial millionaires are the most likely to cut back on spending as a result of inflation, with 100% saying they plan to spend less.

Consumers pulled back on spending in November, failing to keep up with even a muted level of inflation.

Stocks ended the day up on Tuesday after the monthly consumer price index report showed that prices rose less than expected in November.

The European Central Bank will continue to hike benchmark rates, albeit at a slower pace, with inflation expected to be close to a peak.

U.K. inflation came in slightly below expectations at 10.7% in November, as cooling fuel prices helped ease price pressures.

The Fed is expected to raise interest rates by a smaller half percentage point Wednesday yet signal that its battle with inflation is still far from over.

The Fed’s fight against inflation this year has been one head of the three-headed dragon keeping markets from making a meaningful move higher.

Consumer inflation likely cooled in November, but prices continue to rise at a still high rate, particularly for services.

A survey indicated that consumers see one-year inflation running at a 5.2% pace, down 0.7 percentage point from the October reading.

As the economy shows signs of a slowdown, financial firm Charles Schwab believes Treasury inflation-protected securities ETFs may have long-term payoffs.

The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago.

An overwhelming majority of small business owners expect inflation to continue to rise, according to a quarterly poll conducted by CNBC and SurveyMonkey.

Next week’s consumer price index is key as Wall Street awaits the Federal Reserve’s next interest rate decision.