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but first the key inflation report is due out in just hours cnbc's Arab gum is here to break it all down for us good morning Arab yeah good morning guys look that CPI print is going to be quite significant right uh we have been waiting to see the effects then of the consistent increases in interest rates that had been put forward by the Federal Reserve and that Jay Powell the chairman of the Federal Reserve having said that they needed to can maintain rates at restrictive levels so at higher for longer levels at the current levels they're for a sustained period of time what that might be well the market and investors are not necessarily sure but they're looking towards the second half of next year where perhaps there could be Cuts uh but for now though higher for longer is the anticipation the in inflation number could drop off to 3.3% that is the anticipation right now 3.7% is what it was then if it drops off to 3.3% I mean that's a far cry from the 9% we saw it hit in J in June and July last year on the Cor inflation print which is the less dramatic or less volatile number that's anticipated to hit 4.1% so it's a drop off that is necessary yes it's slow and not as quick as perhaps the FED would have wanted thanks for watching our YouTube channel follow today's top stories and breaking news by downloading the NBC News app