MARKET CALL: Get A Neck Brace

Wednesday was a bad day for stocks after the release of the FOMC's Summary of Economic Projections (SEP), which showed two cuts in the federal funds rate in 2025 rather than the four cuts shown in September's SEP. Friday was a better day for stocks after two Fed officials suggested that November's PCED inflation report provided justification for rate cutting in 2025.

Goolsbee. "Over the next 12 to 18 months, rates can still go down a fair amount, and whether that happens three months earlier or three months later, I don't think is the most material thing," said Chicago Fed President Austan Goolsbee in a televised interview with CNBC on Friday. "The thing that's material is we've gotten inflation down."