This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. An as-forecast consumer price index report with softness at the core ratifies the market's recent migration toward risk, growing comfort with the Federal Reserve being all but finished with tightening and a refusal to dismiss the chance of a soft economic landing.
-In the 2010s, the Fed was unable to lift inflation to its 2% goal even as unemployment broke to historic lows -In other words, maybe the Fed will determine the relationship between jobs and inflation is not as fixed or precise as it has recently suggested, so the central bank need not shoot for a material weakening of the labor market to get inflation back to acceptable levels? Several separate themes are animating the early going in stocks this year: consumer cyclicals are perky on lower...
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