Stock Market Outlook: S&P 500 headed for new record as inflation crumbles

That's largely due to cooling prices in the economy, Lee said, pointing to the. Headline inflation eased to 3% and core inflation eased to 4.8%, in line with Lee's estimate for the month.1. Inflation keeps cooling

But crumbling inflation gives the central bank leeway to pause further hikes or even cut interest rates, Lee suggested, especially considering the drop in core inflation, which shows that inflationary pressures in the economy are receding.Commentators have been warning of a recession for the last year as high rates threatened to push the economy into a downturn. But businesses have been careful to protect their profits, which has lowered the odds of recession, Lee said.

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