−10%0+10%−4.5%−1×+4.5%+1×CPI release for December 2025: +0.3% on the month, core +0.2%Retail sales for November 2025: +0.4% on the monthTrump announces tariffs on eight European countries over GreenlandPCE prices for November 2025: +0.2% on the month, core +0.2%FOMC: holdJobless claims for the week to Jan 24, 2026: 209,000 (+9k)