The Federal Reserve is ready for liftoff in March on its first rake-hiking cycle since 2015-18. And Thursday’s report from the Bureau of Labor Statistics showing the Consumer Price Index for January 2022 was up 0.6% and 7.5% for the trailing 12 months – a fresh 40-year high – will figure prominently in its calculus. The Wall Street consensus expected a 0.5% CPI rise for January and 7.3% on an annualized basis. Equity futures retreated on the news. Global yields have already surged on President Christine LaGarde’s concession that the European Central Bank may have to initiate its own tightening regime this year, ahead of its prior schedule. Steven Van Metre of Steven Van Metre Financial joins Real Vision’s Maggie Lake to discuss how the January CPI data will affect Fed decision-making and your portfolio.